On January 2018, Saul Group Inc issued $5,000,000 of 4 bonds at par value The bonds will mature in five years on December 31, 2022 The costs of issuing the bonds were $300,000 Interest is paid on the bonds annually a How will the expense be recognized in 2018 and 2019 under (1) US GAAP and (2) IFRS b Prepare the necessary journal entries

Answer rating: 100% (QA)

January 2018 Issue of 4 Bonds At Par Value 5000000 for 5 years maturity on Dec312022 with Interest p... View the full answer