Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance. (1) June 30, first payment (2) December 31, second payment Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. 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. Record entry Unamortized Discount $ 13,466 11,782 10,098 General Journal Clear entry Carrying Value $ 186,534 188,218 189,902 Debit Credit View general journal

Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance. (1) June 30, first payment (2) December 31, second payment Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. 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. Record entry Unamortized Discount $ 13,466 11,782 10,098 General Journal Clear entry Carrying Value $ 186,534 188,218 189,902 Debit Credit View general journal

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6PA: Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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