Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is paid
Question:
Dunphy Company issued $10,000 of 6%, 10-year bonds at par value on January 1. Interest is paid semiannually eachJune 30 and December 31. Prepare the entries for
(a) The issuance of the bonds
(b) The first interest payment on June 30.
Par ValuePar value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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