On October 1, 2020 Bramble Corp. issued 5%, 10-year bonds with a face value of $5940000 at 103. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. The entry to record the issuance of the bonds would include a credit of $178200 to Discount on Bonds Payable. $5761800 to Bonds Payable. $148500 to Interest Payable. $178200 to Premium on Bonds Payable.
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On October 1, 2020 Bramble Corp. issued 5%, 10-year bonds with a face value of $5940000 at 103. Inte...
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