Teton Corporation issued $600,000 of 8% bonds on November 1, 2014, for $644,636. The bonds were dated

Question:

Teton issued $600,000 of 8% bonds on November 1, 2014, for $644,636. The bonds were dated November 1, 2014, and mature in 10 years, with interest payable each May 1 and November 1. The company uses the effective interest method with an effective rate of 6%. Prepare the company's December 31, 2014 adjusting entry?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...