Prepare the accounting entries (daily) in the sale of Bonds and to record the payment...
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Accounting
Prepare the accounting entries (daily) in the sale of Bonds and to record the payment of the interest in one year.
The LEMON Company issued $800,000, 10%, 20-year bonds on January 1, 2022, at 104. Interest is paid semi-annually on July 1 and January 1. LEMON uses the straight-line, calendar-year amortization method.
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