P14-6 (Issuance of Bonds between Interest Dates, Straight-Line,
Redemption) Presented below are
P14-7 (Entries for Life Cycle of Bonds) On April 1, 2014, Seminole
Company sold 15,000 of its 11% 15-year, $1,000 face value bonds at
97.
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ACCT 551 Week 4 Homework E15-2, E15-5, E15-6
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EXERCISE 15-2
Facts: Kathleen Battle Corporation was organized on January 1,
2014. It is authorized to issue 10,000 shares of 8%, $100 par value
preferred stock, and 500,000 shares of no-par common stock with a
stated value of $1 per share. The following transactions were
completed during the first year. Prepare entries to record the
transactions.