Legacy issues $610,000 of 6.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $579,203 when the market rate is 8%. Problem 10-4A Part 4 1. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 > Record the interest payment and amortization on June 30. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Bond interest expense Discount on bonds payable Cash

Legacy issues $610,000 of 6.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $579,203 when the market rate is 8%. Problem 10-4A Part 4 1. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 > Record the interest payment and amortization on June 30. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Bond interest expense Discount on bonds payable Cash

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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