On March, 1, 200B, ABC Corp. sold 800,000 8% bonds dated Jan. I, 2008 for $824,000. This bond pays interest semi-annually on July 1 and Dec. 31st 1. Pass Journal entry to set up bond sale. 2. Pass Journal entry to record interest expense on July 1, 2008 3. Pass Journal entry to record interest expense on Dec 31, 2008. On April 1, 2008, TDK Corp. sold 600,000 5% bonds dated Jan 1, 2008 for $524,000. 4. Pass Journal entry to set up bond sale. 5. Pass Journal entry to record interest expense on July 1, 2008

On March, 1, 200B, ABC Corp. sold 800,000 8% bonds dated Jan. I, 2008 for $824,000. This bond pays interest semi-annually on July 1 and Dec. 31st 1. Pass Journal entry to set up bond sale. 2. Pass Journal entry to record interest expense on July 1, 2008 3. Pass Journal entry to record interest expense on Dec 31, 2008. On April 1, 2008, TDK Corp. sold 600,000 5% bonds dated Jan 1, 2008 for $524,000. 4. Pass Journal entry to set up bond sale. 5. Pass Journal entry to record interest expense on July 1, 2008

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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