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Assume straight-line amortization

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On January 1, 2009, Schultz Corporation issued $100,000 of its ten-year, 6% bonds payable at $98,000. The bonds were dated January 1, 2009, and interest is paid each December 31. A. Give the entry for the sale of the bonds. B. Give the entry to record the first interest payment. Assume straight-line amortization.

 

 

Reference no: EM13496942

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