Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers....
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Accounting
Entries for Issuing Bonds
Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $270,000 of 15-year, 12% bonds on May 1 of the current year at face value,, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.
| May 1 | Issued the bonds for cash at their face amount. |
| Nov. 1 | Paid the interest on the bonds. |
| Dec. 31 | Recorded accrued interest for two months. |
Journalize the entries to record the above selected transactions for the current year.
May 1 _____________ _______ _____________ _______
Nov 1 _____________ _______ _____________ _______
Dec 31 _____________ _______ _____________ _______
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