Andrews Corporation issued $300,000 of 12%, 3-year bonds on January 1. Interest is payable semiannually on June

Question:

Andrews issued $300,000 of 12%, 3-year bonds on January 1. Interest is payable semiannually on June 30 and December 31. Andrews uses the straight-line method of amortization.
Required
a. Prepare the journal entry to record the issuance of the bonds if they are issued at 101.
b. Prepare the journal entry to record the first payment of interest on June 30.
c. Will Andrews make the same interest payment entry on December 31? Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...