Coyote Company issued 10,000 shares of 4-year, 6%, $1,000 par value bonds (i.e., par value/share =...

 

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Coyote Company issued 10,000 shares of 4-year, 6%, $1,000 par value bonds (i.e., par value/share = $1,000) for 110% of the par value on 1/1/2022. The interest will be paid on 12/31 of each year. Instructions: Prepare any necessary journal entries for the bond on 1) 1/1/2022, 2) 12/31/2022, 3) 12/31/2024, the maturity date of the bond. Coyote Company issued 10,000 shares of 4-year, 6%, $1,000 par value bonds (i.e., par value/share = $1,000) for 110% of the par value on 1/1/2022. The interest will be paid on 12/31 of each year. Instructions: Prepare any necessary journal entries for the bond on 1) 1/1/2022, 2) 12/31/2022, 3) 12/31/2024, the maturity date of the bond.

Answer rating: 100% (QA)

Lets prepare the necessary journal entries for each of the bond transactions 1 On 112022 when the bo... View the full answer