Refer to the amortization schedule prepared in Exercise 15 11 Dejour

Refer to the amortization schedule prepared in Exercise 15.11. Dejour Energy Inc. has a November 30 year-end.

Required
Part 1
Record the following entries:
a. Issuance of the bonds on October 1, 2014,
b. Adjusting entry to accrue bond interest and discount amortization on November 30, 2014,
c. Payment of interest on October 1, 2015.

Part 2
Show how the bond will appear on the balance sheet under long-term liabilities at November 30, 2018.

Membership

  • Access to 1 Million+ Textbook solutions
  • Ask any question from 24/7 available
    Tutors
$13.99
START MEMBERSHIP
OR

Non-Members

Relevant Accounting Tutors