Business, 08.04.2020 00:41 ajernandes01

Great Lake Glassware Company issues $1,121,000 of its 12%, 10-year bonds at 99 on February 28, 2018. The bonds pay interest on February 28 and August 31. Assume that Great Lake uses the straight-line method for amortization. The journal entry to record the first interest payment on August 31, 2018 includes a . A. debit to Cash for $67,260 B. debit to Interest Expense for $66,699 C. debit to Discount on Bonds Payable for $561 D. debit to Interest Expense for $67,821

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Great Lake Glassware Company issues $1,121,000 of its 12%, 10-year bonds at 99 on February 28, 2018....