Question

Refer to the amortization schedule prepared in Exercise 15-18. Assume a November 30 year-end.

Required
Part 1
Record the following entries:
a. Issuance of the bonds on October 1, 2014.
b. Adjusting entry to accrue bond interest and premium amortization on November 30, 2014.
c. Payment of interest on October 1, 2015.

Part 2
Show how the bond will appear on the balance sheet under long-term liabilities at November 30, 2019.



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  • CreatedJanuary 08, 2015
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