On January 1, 2020, Buffalo Corporation issued $760,000 of 6% bonds, due in 10 years....
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Accounting
On January 1, 2020, Buffalo Corporation issued $760,000 of 6% bonds, due in 10 years. The bonds were issued for $819,239 and the effective-interestrate is 5%. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (Round answers to O decimal ploces, eg. 125. If no entry is required, select " No entry" for the account titles and enter 0 for the amounts. Credit occount titles are automotically indented when amount is entered. Do not indent manually.)
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