Nina Corporation issued $8,000,000 in 8.5 percent, five-year bonds on March 1, 2010, at 96. The semiannual

Question:

Nina Corporation issued $8,000,000 in 8.5 percent, five-year bonds on March 1, 2010, at 96. The semiannual interest payment dates are September 1 and March 1. Prepare entries in journal form for the issue of the bonds by Nina on March 1, 2010, and the first two interest payments on September 1, 2010, and March 1, 2011. Use the straight-line method and ignore year-end accruals.

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...