Question: Origin, Inc., issued a $40,000, 5%, 10-year bond payable at a price of 90 on January 1, 2012. Requirements 1. Journalize the issuance of the

Origin, Inc., issued a $40,000, 5%, 10-year bond payable at a price of 90 on January 1, 2012.

Requirements

1. Journalize the issuance of the bond payable on January 1, 2012.

2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2012, using the straight-line method to amortize the bond discount or premium.

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Req 1 Journal Entry DATE ACCOUNTS AND EXPLANATIONS POST REF DEBIT CREDIT 2012 Jan 1 Cash 4000... View full answer

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