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required 1-3 Exercise 10-8 (Algo) Straight-Line: Recording bond issuance and premium amortization...

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Accounting

required 1-3 image
Exercise 10-8 (Algo) Straight-Line: Recording bond issuance and premium amortization LO P3 Wookie Company issues 8%, five-year bonds, on January 1 of this year, with a par value of $108,000 and semiannual interest payments. Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30 . (c) The second interest payment on December 31. Journal entry worksheet Note: Enter debits before credits

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