On June 30, Kelce Koolers issues 7%, 18-year bonds payable with a face value of $86,000. The bonds are issued at 90 and pay interest on June 30 and December 31. Journalize the issuance of the bond on June 30th and the first interest payment of December 31st. (Assume bonds payable are amortized using the straight-line amortization method.) 1. Journalize the issuance of the bonds on June 30. 2. Journalize the semiannual interest payment and amortization of the bond discount on December 31. Date June 30 December 31 Check All Parts Description Debit Credit
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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