Bramble Corp has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January 1, 2022, 1,400, 7% 5 year $1000 bonds dated January 1, 2022 were issued at face value. 2. On July 1, $794,000 8% 5 year bonds dated Julay 1, 2022 were issued at 101. 3. On Spetember 1, $360,000 6% 5 year bonds dated September 1, 2022 were issued at 97. Prepare the journal entry to record each bond transaction at the date of issuance.
Bramble Corp has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January 1, 2022, 1,400, 7% 5 year $1000 bonds dated January 1, 2022 were issued at face value. 2. On July 1, $794,000 8% 5 year bonds dated Julay 1, 2022 were issued at 101. 3. On Spetember 1, $360,000 6% 5 year bonds dated September 1, 2022 were issued at 97. Prepare the journal entry to record each bond transaction at the date of issuance.
Related questions
Question
11.
Subject :- Accounting
Bramble Corp has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. On January 1, 2022, 1,400, 7% 5 year $1000 bonds dated January 1, 2022 were issued at face value. 2. On July 1, $794,000 8% 5 year bonds dated Julay 1, 2022 were issued at 101. 3. On Spetember 1, $360,000 6% 5 year bonds dated September 1, 2022 were issued at 97. Prepare the
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps