The City of Oriole issued 3 0 0 bonds at their face value of $ 2 ,
Question:
The City of Oriole issued bonds at their face value of $ each plus accrued interest on June The term of the bonds was January to January with interest payable semiannually each January and July at Oriole uses the effective interest method.
a Prepare the journal entry for the date of issuance. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. List all debit entries before credit entries.
b Prepare the journal entry for the July interest payment. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. List debit entry before credit entry.
c Prepare journal entry for December adjusting entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. List debit entry before credit entry.
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy