On January 1, 2019 a company issues a $4,500,000, 8%, 15-year bond that pays semi-annual interest of
Fantastic news! We've Found the answer you've been seeking!
Question:
On January 1, 2019 a company issues a $4,500,000, 8%, 15-year bond that pays semi-annual interest of $180,000, receiving cash of $4,500,000. What journal entry should company record for (a) issuance of bonds, (b) the first interest payment on June 30, and (c) the payment of the principal on the maturity date.
Related Book For
Business
ISBN: 978-0133354263
8th Canadian Edition
Authors: Ricky Griffin, Ronald J.Ebert , Frederick Starke, Melanie Lang, George Dracopoulos
Posted Date: