Question: On January 1 Doherty Corp issues 5 10 year bonds payable

On January 1, Doherty, Corp., issues 5%, 10-year bonds payable with a maturity value of $90,000. The bonds sell at 95 and pay interest on January 1 and July 1. Doherty, Corp., amortizes any bond discount or premium by the straight-line method. Record
(a) The issuance of the bonds on January 1, and
(b) The semiannual interest payment and amortization of any bond discount or premium on July

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  • CreatedApril 29, 2014
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