в с н к M N P. т Chapter 11, E15B 1. Entries prepared in journal form 2014 Sept. 1 Sale of $400,000 of 12%, 10-year bonds at face value х Nov. 1 Made semiannual interest payment х х 2. Bond interest expense calculated The bond interest expense for the year ended December 31, 2014, is $_ months (September-December) x or ) + November ( + December (

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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E15B. Sim Corporation sold $400,000 of 12 percent, 10-year bonds at face value on
September 1, 2014. The issue date of the bonds was May 1, 2014.
1. Prepare the journal entries to record the sale of the bonds on September 1 and the
first semiannual interest payment on November 1, 2014.
2. The company’s fiscal year ends on December 31, and this is its only bond issue.
What is the bond interest expense for the year ended December 31, 2014?

в с
н
к
M N
P.
т
Chapter 11, E15B
1. Entries prepared in journal form
2014
Sept. 1
Sale of $400,000 of 12%, 10-year bonds at
face value
х
Nov. 1
Made semiannual interest payment
х
х
2. Bond interest expense calculated
The bond interest expense for the year ended December 31, 2014, is $_
months (September-December) x
or
) + November (
+ December (
Transcribed Image Text:в с н к M N P. т Chapter 11, E15B 1. Entries prepared in journal form 2014 Sept. 1 Sale of $400,000 of 12%, 10-year bonds at face value х Nov. 1 Made semiannual interest payment х х 2. Bond interest expense calculated The bond interest expense for the year ended December 31, 2014, is $_ months (September-December) x or ) + November ( + December (
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