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24% D Sat 5:17 PM le Edit View History Bookmarks Window Help a edugen.wileyplus.com l Help l Contact Us I Lo Kieso, Intermediate Accounting, 16e INTERMEDIATE ACCOUNTING I & II (310/311/2 udy & Practice Gradebook ORION Downloadable eTextbook en Assignment CALCULATOR FULL SCREEN PRINTER VERSON BACK Exercise 14-10 (Part Level Submission) On )anuary 1 2017, Grouper Company sold 12% bonds having a maturity value of $400,000 for $430,326, which provides the bondholders with a 10% yield The bands are dated January 1, 2017, and mature January 1, 2022, with interest payable December 31 of each year. Grouper Company allocates interest and unamortized discount or premium on the effective-interest basis. ?(a) Prepare the journal entry at the date of the band issuance. Round answer to O decimal places, e g 38 5? Ifro entry .soquired select "No Entry account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) for the 14-15 Date Account Tities and Explanation Debit January 1, 2017 3 (Part Click if you would like to Show Work for this question: Oaen Show Work es (Part ts by Study Attempts: O of 4 used SAVE FOR LATER 3 delete 0 return

Explanation / Answer

Date General Journal Debit Credit Jan 1 2017 Cash 430326 Bonds payable 400000 Premium on bonds payable 30326 Record journal entry for bond issued at premium

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