Adcock Company issued $600,000, 9%, 20-year bonds on January 1, 2014, at 103. Interest is payable semiannually
Question:
Instructions
Prepare the journal entries to record the following,
(a) The issuance of the bonds.
(b) The payment of interest and the premium amortization on July 1, 2014, assuming that interest was not accrued on June 30.
(c) The accrual of interest and the premium amortization on December 31, 2014.
(d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
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a Jan 1 Cash 600000 X 103 618000 Premium on Bonds Payable 18000 Bonds Pa...View the full answer
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Related Book For 
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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