Question: On January 1 Danvers Corp issues 5 four year bonds payable

On January 1, Danvers, Corp. issues 5%, four-year bonds payable with a maturity value of $110,000. The bonds sell at 94 and pay interest on January 1 and July 1. Danvers, Corp. amortizes any bond discount or premium by the straight-line method. Record
(a) The issuance of the bonds on January 1,
(b) The semiannual interest payment and amortization of any bond discount or premium on July 1.

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  • CreatedJuly 08, 2015
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