LA Forge Inc. issued $500,000, 6% bonds on August 1, 2022. Interest is payable semi-annually on February
Fantastic news! We've Found the answer you've been seeking!
Question:
LA Forge Inc. issued $500,000, 6% bonds on August 1, 2022. Interest is payable semi-annually on February 1 and August 1. The bonds mature on August 1, 2025. At the time of issuance, similar bonds were trading at 8%. LA Forge has a year-end of December 31.
Required:
Create a bond amortization schedule for the term of the bond.
Prepare the required journal entries for 2022 and 2023.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date: