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The Square Foot Grill, Incorporated issued $400,000 of 10-year, 8 percent bonds on July 1,...

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Accounting

The Square Foot Grill, Incorporated issued $400,000 of 10-year, 8 percent bonds on July 1, Year 1, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization. b. Prepare the liabilities section of the balance sheet at the end of Year 1 and Year 2

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