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Unformatted text preview: bonds payable that decreases the value of the bonds and is subtracted from the bonds payable in the long-term liability section of the balance sheet. Initially it is the difference between the cash received and the maturity value of the bond. General Journal Date Account Title and Description Ref. Debit Credit 20X1 July 1 Cash 9,377 Discount on Bonds Payable 623 Bonds Payable 10,000 Issue bonds at a discount...
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This note was uploaded on 12/25/2011 for the course FIN 3312 taught by Professor Staff during the Spring '08 term at Texas State.
- Spring '08