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Frankum company has issued three different bonds during 2017, Interest is payable annually on each of these bonds...... XXXXXXXXXXPrepare the journal entries to record each bond transaction at the...

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Frankum company has issued three different bonds during 2017, Interest is payable annually on each of these bonds...... XXXXXXXXXXPrepare the journal entries to record each bond transaction at the date of transaction.
005_76qazo-qlcs2sjk.docx
Answered Same Day Dec 26, 2021

Solution

David answered on Dec 26 2021
128 Votes
S.no. Date Particulars Dr Cr
1 Jan-01
Cash (1000*1000)

10,00,000
To 6% Bonds payable

10,00,000
(Being Issue of debenture at face value)
2 Jul-01
Cash (71000*104)

73,84,000
To Premium on Bonds payable
(71000*4) ...
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