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disa [49]
3 years ago
12

On January 1, 20X1, Meister Company issues $200,000 of 6% bonds. Interest of $6,000 is payable semiannually on June 30 and Decem

ber 31. The bonds mature in 5 years. The bonds were issued at face amount. All the bonds are privately placed with one investor. On the date of issue, the investor should record what journal entry?
Business
1 answer:
hoa [83]3 years ago
6 0

Answer:

                                                                   Debit                   Credit

Bank/Cash                                                  $200,000

Bonds payable                                                                        $200,000

Explanation:

The journal entry which shall be recorded by Meister Company in its accounts in respect of bonds issued by it, on January 1, 20X1, is mentioned below:

                                                                   Debit                   Credit

Bank/Cash                                                  $200,000

Bonds payable                                                                        $200,000

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5 0
3 years ago
Zumbrunn Company’s income statement contained the following condensed information. ZUMBRUNN COMPANY Income Statement For the Yea
kotykmax [81]

Answer:

Explanation:

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8 0
4 years ago
Read 2 more answers
Use the following information to answer Questions 12 - 15. Below is selected data for Gertup Corporation as of 12/31/05: Gertup
alukav5142 [94]

Answer:

the cash that should be freed up is $267

Explanation:

The computation of the cash that would be freed up is shown below:

As we know that

The inventory turnover is

= Cost of goods sold ÷ average inventory

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4 0
3 years ago
Timothy was driving his friend Nick to football practice. While driving, he was hit by a driver who had coverage of 100/300/50.
Art [367]

Answer:

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Answer:

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7 0
3 years ago
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