Prepare the journal entries to record the issuance of the bonds on January 1 and the first two interest payments on June 30 and December 31.
Prepare the journal entries to record the issuance of the bonds on January 1 and the first two interest payments on June 30 and December 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Straight-Line Discount Amortization
Instructions
Chart of Accounts
General Journal
X
Instructions
Bryan Company issued $570,000 of 6% face value bonds on January 1, 2019, for $554,160. The bonds are due December 31, 2021, and pay interest semiannually on June 30 and December 31. Bryan uses the straight-line amortization method.
Required:
| Prepare the |
Prepare the journal entries to record the issuance of the bonds on January 1 and the first two interest payments on June 30 and December 31.
General Journal Instructions
PAGE 1
GENERAL JOURNAL
| DATE | ACCOUNT TITLE | POST. REF. | DEBIT | CREDIT | |
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