Cupola Fan Corporation issued 1 0 % , $ 4 8 0 , 0 0 0 ,
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Question:
Cupola Fan Corporation issued $year bonds for $ on June
Debt issue costs were $
Interest is paid semiannually on December and June
One year from the issue date July the corporation exercised its call privilege and retired the bonds for $
The corporation uses the straightline method both to determine interest expense and to amortize debt issue costs.
Required:
to Prepare the journal entries to record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December & June and the call of the bonds.
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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