WJTY Company issued $300,000, 11%, 10-year bonds on January 1, 2012, for $318,694. This price resulted in
Question:
Instructions
Prepare the journal entries to record the following. (Round to the nearest dollar.)
(a) The issuance of the bonds.
(b) The payment of interest and the premium amortization on July 1, 2012, assuming that interest was not accrued on June 30.
(c) The accrual of interest and the premium amortization on December 31, 2012.
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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