Refer to the amortization schedule prepared in Exercise 14.11. Dejour Energy Inc. has a November 30 year-end.

Question:

Required

Part 1

Record the following entries:

a. Issuance of the bonds on October 1, 2020

b. Adjusting entry to accrue bond interest and discount amortization on November 30, 2020

c. Payment of interest on October 1, 2021

Part 2

Show how the bond will appear on the balance sheet under non-current liabilities at November 30, 2024.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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