On January 1, 2011, Kentwood Company issued bonds with a face value of $800,000. The bonds carry

Fantastic news! We've Found the answer you've been seeking!

Question:

On January 1, 2011, Kentwood Company issued bonds with a face value of $800,000. The bonds carry a stated interest of 7% payable each January 1 and July 1.

Instructions

Prepare the journal entry for the issuance assuming the bonds are issued at 97. Prepare the journal entry for the issuance assuming the bonds are issued at 102.