Business, 21.09.2019 04:20, joThompson

On january 1, 2017, jws corporation issued $600,000 of 7% bonds, due in 10 years. the bonds were issued for $559,224, and pay interest each july 1 and january 1. jws uses the effective-interest method. prepare the company’s journal entries for (a) the january 1 issuance, (b) the july 1 interest payment, and (c) the december 31 adjusting entry. assume an effective-interest rate of 8%. (round intermediate calculations to 6 decimal places, e. g. 1.251247 and final answer to 0 decimal places, e. g. 38,548. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when amount is entered. do not indent manually.)

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On january 1, 2017, jws corporation issued $600,000 of 7% bonds, due in 10 years. the bonds were iss...