Synergy Corporation is authorized to issue $1,200,000 of 8% bonds. Interest on the bonds is payable semiannually;

Question:

Synergy Corporation is authorized to issue $1,200,000 of 8% 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. January 1, 2019 Sold the bonds at par
b. June 30, 2019 First interest payment
c. December 31, 2019 Second interest payment

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...

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