Refer to the information for Cookie Dough Corporation above. Cookie Dough Corporation issued $850,000 in 9 percent,

Question:

Refer to the information for Cookie Dough above.
Cookie Dough issued $850,000 in 9 percent, 10-year bonds (payable on December 31, 2022) on December 31, 2012, for $907,759. Interest is paid on June 30 and December 31. The market rate of interest is 8 percent.

Required:
Prepare the journal entries for December 31, 2014 and 2015. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...