Question

Hastings, Corp. issued 6%, five-year bonds payable with a maturity value of $5,000 at par on May 1, 2014. Assume that the fiscal year ends on December 31. Journalize the following transactions and include an explanation for each entry.
a. Issuance of the bonds payable on May 1, 2014.
b. Payment of the first semiannual interest amount on November 1, 2014.
c. Accrual of semiannual interest expense on December 31, 2014.


$1.99
Sales0
Views35
Comments0
  • CreatedJuly 08, 2015
  • Files Included
Post your question
5000