On January 1, 2014, JWS Corporation issued $600,000 of 7% bonds, due in 10 years....
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Accounting
On January 1, 2014, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for for $644,636 and the effective-interest rate is 6%.
Prepare the companys journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.
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