Q2 On Jan. 1, 2017 Ahmad Purchased 50 Bonds for $1,000 each ,10% from ABC Company bonds for $50,000. Interest is payable annually on January.
Dec. 31, 2017 Accrued interest on ABC bonds.
Jan. 1, 2018 Received interest from ABC bonds.
Jan 1,2018 sold bonds for $ 29,000
Instruction
(a) Journalize the transactions in ahmad books
(b) prepare the adjusting entry for the accrual of interest on December 31, 2017
Answers: 1
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Q2 On Jan. 1, 2017 Ahmad Purchased 50 Bonds for $1,000 each ,10% from ABC Company bonds for $50,000....
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