Schlitterbahn Waterslide Company issued 25,000, 10-year, 5 percent, $100 bonds on January 1, 2013, at face value. Interest is payable each December 31. Show the accounting equation effects and prepare journal entries for (a) the issuance of these bonds on January 1, 2013, and (b) the interest payment on December 31, 2013. View Solution:
Schlitterbahn Waterslide Company issued 25 000 10 year 5 percent 100 bonds

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