EF12-23 (similar to) On June 30, Daughtry Limited issues 9%, 20 year bonds payable with...
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EF12-23 (similar to) On June 30, Daughtry Limited issues 9%, 20 year bonds payable with a face value of $90,000 The bonds are issued at 90 and pay interest on June 30 and December 31 (Assume bonds payable are amortized using the straight line amortization method) Requirements 1. Joumalize the issuance of the bonds on June 30 2. Journalize the semiannual interest payment and amortization of the bond discount on December 31
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