The Bridgeport Company issued $340,000 of 10% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds were issued at 97.
Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Bridgeport Company records straight-line amortization semiannually.

Transcribed Image Text:

No. Date Account Titles and Explanation Debit Credit January 1, 2017 (a) Jan. 1, 2017July 1, 2017Dec. 31, 2017 (b) Jan. 1, 2017July 1, 2017Dec. 31, 2017 (c)