Question

On April 30, 2010, Hackman Corporation issued $1 million face value 12% bonds dated January 1, 2010, for $1,023,000 plus accrued interest. The bonds pay interest semiannually on June 30 and December 31 and are due December 31, 2017. The company uses the straight-line amortization method.

Required
Record the issuance of the bonds and the first two interest payments.



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  • CreatedDecember 09, 2013
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