Question: please answer both 1 and 2 Problem 1. On June 30, 2009, Arlington Company issued $1,500,000 of 10-year, 8% bonds, dated June 30, for $1,540,000.

please answer both 1 and 2

Problem 1. On June 30, 2009, Arlington Company issued $1,500,000 of 10-year, 8% bonds, dated June 30, for $1,540,000. Present entries to record the following transactions: Arlington Company (1) Issuance of bonds. (2) Payment of first semiannual interest on December 31, 2009. (3) Amortization by straight-line method of bond premium on December 31, 2009. 2. Prepare the journal entries for the following transactions for Batson Co. (a) Batson Co. purchased 1,200 shares of the total of 100,000 shares of Michael Corp, stock for $20.75 per share plus a $70 commission. Michael's total earnings for the period are $84.000. Michael paid a total of $40,000 in cash dividends. (b) (c)

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