bonds issuance

Project Description:

on june 30, 2012, mackes company issued $5,000,000 face value of 13%, 20-year bonds at $5,376,150, a yield of 12%. mackes uses the effective-interest method to amortize bond premium or discount. the bonds pay semiannual interest on june 30 and december 31.
prepare journal entries to record issuance of bonds on june 30, 2012, payment of interest and amortization of premiums dec. 31, 2012, june 30,2013, and dec. 31, 2013
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Project Stats:

Price Type: Negotiable

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