Question: ABC Corp. issues $100,000, 10%, 10 year onds dated January 1,2015 that pays interest semi annually on June 30 and December 31. The bonds are

ABC Corp. issues $100,000, 10%, 10 year onds dated January 1,2015 that pays interest semi annually on June 30 and December 31. The bonds are issued at a price of $110,000. ABC amoritizes any premium or discount using the straight line method.

Prepare the Journal entery to record,

a. issuance of bonds on Jan 1

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