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Anton [14]
3 years ago
10

What is a minimum balance when it comes to account requirement? minimum dollar amount that can be in an account minimum dollar a

mount that can be withdrawn from an account minimum dollar amount needed for the account to be tax free minimum dollar amount that can be automatically withdrawn NextReset
Business
1 answer:
pychu [463]3 years ago
6 0
(A)   Minimum dollar amount that can be in an account
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Legacy issues $570,000 of 8.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31
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Answer:

journal entry  based on straight line method are given below

Explanation:

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journal entry  based on straight line method

date                    general journal                              Debit             Credit  

June 30               bond interest expenses                $31969  

                            Discount on Bonds payable                                $7744

                             = (570000-508050 ) ÷ 8

                              Cash = 570000 × 8.5% ÷ 2                                $24225

December 31       Bond interest expense                  $31969  

                            Discount on Bonds payable                                $7744

                             = (570000-508050 ) ÷ 8

                              Cash = 570000 × 8.5% ÷ 2                                $24225

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