Homework Answers
Journal Entries:
| Transaction | Account title and Explanation | Debit | Credit |
| 6 | Cash | $130,000 | |
| Bonds payable | $130,000 | ||
| [To record issuance of bonds at par] | |||
| 7 | Prepaid insurance | $3,000 | |
| Cash | $3,000 | ||
| [To record payment for insurance] |
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Journalize 6 and 7
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