Ramos Travel Co. issued the following bonds at a premium Date of issue and sale....April 1, 20-1
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Ramos Travel Co. issued the following bonds at a premium
Date of issue and sale....April 1, 20-1
Principal amount: ....$600,000
Sale price of bonds: ...104
Denomination of bonds: ..$1,000
Life of bonds: ......20 years
Stated rate: ........9%, payable semiannually on September 30 and March 31
Prepare journal entries for:
(a) Issuance of the bonds at a premium.
(b) Interest payment and premium amortization on the bonds on September 30.
(c) Year-end adjustment on the bonds.
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