On January 1, 2011, Air New Jersey Inc. issued $5000 in principal of 3-year bonds with a 9% stated interest rate and semi-annual payments (non-amortizing debt). Air New Jersey incurred $533 in issue costs, which were deducted from the issue proceeds and paid directly to the company's underwriters and lawyers.

 

What of the lines comprised the journal entry when Air New Jersey issued the bond to investors?

Answer rating: 100% (QA)

The journal entry when Air New Jersey issued the bonds to investors would include recording the issu... View the full answer