Zho Company issues HK$5 million, 10-year, 9% bonds at 96, with interest payable on July 1 and January 1. The
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2011.
(b) Prepare the journal entry to record interest expense and bond discount amortization on July 1, 2011, assuming no previous accrual of interest.
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Question Posted: March 11, 2013 06:29:50