On March 1, 2012, Roger Corporation issued $150,000 of 10%, five-year bonds at 105. The bonds were

Question:

On March 1, 2012, Roger Corporation issued $150,000 of 10%, five-year bonds at 105. The bonds were dated March 1, 2012, and interest is payable on March 1 and September 1. Roger records amortization using the straight-line method. Roger’s financial reporting year ends on December 31.

Required:

Provide all necessary journal entries on each of the following dates:

1. March 1, 2012

2. September 1, 2012

3. December 31, 2012

4. March 1, 2017

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...