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BE 249 On January 1, 2018, Morris Enterprises Issued 9%, 5-Year Bonds

Question 136

Essay

BE 249
On January 1, 2018, Morris Enterprises issued 9%, 5-year bonds with a face amount of $900,000 at par. Interest is payable annually on January 1.
Instructions
Prepare the entries to record the issuance of the bonds and the first annual interest accrual on December 31.

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