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  3. on april 1, 2013, quirk issued $800,000, 9% bonds

On April 1, 2013, Quirk issued $800,000, 9% bonds for $860,589 including accrued interest. Interest...

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Question

Accounting

On April 1, 2013, Quirk issued $800,000, 9% bonds for $860,589 including accrued interest. Interest is payable annually on January 1, and the bonds mature on January 1, 2023.

Prepare journal entries to record the following transactions related to long-term bonds of Quirk Co?

Issuance of Bond

Interest 12/31/2014

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