Sylvestor Company issues 9%, five-year bonds, on December 31, 2016, with a par value of $180,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2016 $ 6,600 $ 173,400 (1) 6/30/2017 5,940 174,060 (2) 12/31/2017 5,280 174,720 Use the above bond amortization table and prepare journal entries to record (a) the issuance of bonds on December 31, 2016; (b) the first interest payment on June 30, 2017; and (c) the second interest payment on December 31, 2017.

Sylvestor Company issues 9%, five-year bonds, on December 31, 2016, with a par value of $180,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2016 $ 6,600 $ 173,400 (1) 6/30/2017 5,940 174,060 (2) 12/31/2017 5,280 174,720 Use the above bond amortization table and prepare journal entries to record (a) the issuance of bonds on December 31, 2016; (b) the first interest payment on June 30, 2017; and (c) the second interest payment on December 31, 2017.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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