Paulson Company issues four year 6 bonds on December 31, 2017, with a face value of $90,000 and semiannual interest payments Semester End Period discount not amortized Value in books (0) 31 12 2017 ps 6,533 ps 83,467 (1) 30 06 2018 5,716 84,284 (2) 31 12 2018 4,899 85,101 Use the straight line bond...

a Journal entry for the issuance of bonds on December 31 2017 Date December 31 2017 Debit Cash 90000 ...

Paulson Company issues four-year 6% bonds on December 31, 2017, with a face value of $90,000 and

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Paulson Company issues four-year 6% bonds on December 31, 2017, with a face value of $90,000 and semiannual interest payments.

Semester-End Period		discount not amortized		Value in books
(0)	31/12/2017	ps	6,533	ps	83,467
(1)	30/06/2018		5,716		84,284
(2)	31/12/2018		4,899		85,101

Use the straight-line bond amortization table above and prepare journal entries for the following.

(a) The issuance of bonds on December 31, 2017.

(b) The first interest payment on June 30, 2018.

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Fundamental Accounting Principles

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23rd edition

Authors: John Wild, Ken Shaw, Barbara Chiappett

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Posted Date: May 20, 2023 11:34 AM

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Paulson Company issues four-year 6% bonds on December 31, 2017, with a face value of $90,000 and

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