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
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text: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
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