Business, 10.03.2020 04:13 smarcalli5194

On October 1, 2016, Concord Corp. issued $924,000, 7%, 10-year bonds at face value. The bonds were dated October 1, 2016, and pay interest annually on October 1. Financial statements are prepared annually on December 31.

Prepare a tabular summary to record the issuance of the bonds and the adjustments to record the accrual of interest on December 31, 2016.

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On October 1, 2016, Concord Corp. issued $924,000, 7%, 10-year bonds at face value. The bonds were d...