Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $90,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance (1) June 30, first payment Carrying Value $ 83,467 84,284 (2) December 31, second payment 85,101 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. tion list Unamortized Discount $ 6,533 5,716 4,899
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $90,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance (1) June 30, first payment Carrying Value $ 83,467 84,284 (2) December 31, second payment 85,101 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. tion list Unamortized Discount $ 6,533 5,716 4,899
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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![Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $90,000 and semiannual interest
payments.
Semiannual Period-End
(0) January 1, issuance
(1) June 30, first payment
Carrying Value
$ 83,467
84,284
(2) December 31, second payment
85,101
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
3
Date
January 01
Record the issuance of the bonds on January 1.
Note: Enter debits before credits.
Unamortized Discount
$ 6,533
5,716
4,899
General Journal
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4abdd05c-6280-48f1-84fd-702fee1e9db7%2Ff3eef15f-206a-4cd3-86c6-21405c2b685a%2Fjepre1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $90,000 and semiannual interest
payments.
Semiannual Period-End
(0) January 1, issuance
(1) June 30, first payment
Carrying Value
$ 83,467
84,284
(2) December 31, second payment
85,101
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
3
Date
January 01
Record the issuance of the bonds on January 1.
Note: Enter debits before credits.
Unamortized Discount
$ 6,533
5,716
4,899
General Journal
Debit
Credit
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