Question: On January 1 2015 Universe of Fun issues 900 000 8

On January 1, 2015, Universe of Fun issues $900,000, 8% bonds that mature in 10 years. The market interest rate for bonds of similar risk and maturity is 9%, and the bonds issue for $841,464. Interest is paid semiannually on June 30 and December 31.

Required:
1. Complete the first three rows of an amortization schedule.
2. Record the issuance of the bonds on January 1, 2015.
3. Record the interest payments on June 30, 2015, and December 31, 2015.


View Solution:


Sale on SolutionInn
Sales15
Views665
Comments
  • CreatedJuly 15, 2014
  • Files Included
Post your question
5000