Burris Corporation is authorized to issue $800,000 of 9% bonds. Interest on the bonds is payable semiannually;
Question:
Burris Corporation is authorized to issue $800,000 of 9% bonds. Interest on the bonds is payable semiannually; the bonds are dated January 1, 2019, and are due December 31, 2023.
Required:
Prepare the journal entries to record the following:
a. April 1, 2019 Sold the bonds at par plus accrued interest
b. June 30, 2019 First interest payment
c. December 31, 2019 Second interest payment
CorporationA 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...
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a 2019 Apr 1 Cash 818000 Interest Expense 800000 009 312 18000 Bonds Payable 800000 Alter...View the full answer
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Related Book For 
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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