On January 1, a company issues 10%, four-year bonds with a par value of $102,000 and semiannual interest payments. Follo the first few rows of the straight-line amortization table. (0) (1) (2) January 1, issuance June 30, first payment December 31, second payment Prepare journal entries for the following transactions. January 1 June 30 Bond issuance. First interest payment. December 31 Second interest payment. Semiannual Period-End View transaction list Journal entry worksheet < 1 2 Date January 01 3 Record the issuance of the bonds on January 1. Note: Enter debits before credits. General Journal Unamortized Discount $ 6,773 5,926 5,079 Debit Carrying Value $ 95,227 96,074 96,921 Credit
On January 1, a company issues 10%, four-year bonds with a par value of $102,000 and semiannual interest payments. Follo the first few rows of the straight-line amortization table. (0) (1) (2) January 1, issuance June 30, first payment December 31, second payment Prepare journal entries for the following transactions. January 1 June 30 Bond issuance. First interest payment. December 31 Second interest payment. Semiannual Period-End View transaction list Journal entry worksheet < 1 2 Date January 01 3 Record the issuance of the bonds on January 1. Note: Enter debits before credits. General Journal Unamortized Discount $ 6,773 5,926 5,079 Debit Carrying Value $ 95,227 96,074 96,921 Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject : Accounting'
Transcribed Image Text:On January 1, a company issues 10%, four-year bonds with a par value of $102,000 and semiannual interest payments. Followin
the first few rows of the straight-line amortization table.
(0)
(1)
(2)
January 1, issuance
June 30, first payment
December 31, second payment
Prepare journal entries for the following transactions.
Semiannual Period-End
January 1 Bond issuance.
June 30
First interest payment.
December 31 Second interest payment.
View transaction list
Journal entry worksheet
<
1
2
Date
January 01
3
Record the issuance of the bonds on January 1.
Note: Enter debits before credits.
General Journal
Unamortized
Discount
$ 6,773
5,926
5,079
Debit
Carrying
Value
$ 95,227
96,074
96,921
Credit
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