Dec. 31, 2012 balance sheet of Jones co. had following:

7.5% bonds payable due Dec. 31, 2020 $1,600,000 unamortized discount on bonds payable $64,000. Bonds were issued on Dec. 31, 2010 at 95 with interest payable on June 30 & Dec. 31. April 1, 2103, Jones retired $320,000 of these bonds at 101 plus interest. prepare journal entries to record above transactions, straight-line amortization.

Answer rating: 100% (QA)

Date Description Dr Cr 31Dec At the time of Issuan... View the full answer