Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value of
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Wookie Company issues 6%, five-year bonds, on January 1 of this year, with a par value of $98,000 and semiannual interest payments. Semiannual Period-EndUnamortized PremiumCarrying Value (0)January 1, issuance$8,071 $106,071 (1)June 30, first payment 7,264 105,264 (2)December 31, second payment 6,457 104,457 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31.
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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