The bonds pay interest every December 31 and June 30

The bonds pay interest every December 31 and June 30 -...

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The bonds pay interest every December 31 and June 30. When the semiannual interest is received  on December 31, the entry to record it increases (debits) cash and increases (credits) interest 
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Unformatted text preview: revenue for $250 ($5,000 × 10% × 6 / 12 ). General Journal Date Account Title and Description Ref. Debit Credit 20X0 Dec. 31 Cash 250 Interest Revenue 250 Interest on VEI bonds...
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This note was uploaded on 11/15/2011 for the course ACCT 2310 taught by Professor Staff during the Spring '09 term at Texas State.

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