On November 1,2013,Archangel Services Issued $200,000 of 10-Year Bonds with a Stated

question 57

Essay

On November 1,2013,Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%.The bonds were sold at par,and make semiannual payments on April 30 and October 31.At December 31,2013,Archangel made an adjusting entry to accrue interest at year-end.Please provide that journal entry.
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Definitions:

Federal Development Funds

Financial resources provided by a national government for projects aimed at improving infrastructure, encouraging economic growth, or enhancing social welfare within its jurisdiction.

1930s

The decade spanning from 1930 to 1939, marked by significant events such as the Great Depression and the lead-up to World War II.

The South

Commonly refers to the southern part of the United States, historically known for its agrarian economy and was the center of the American slave trade.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, evidenced by an increase in the country's gross domestic product (GDP).