Omnicity Corporation had a $1,250,000, 7% bond available for issue on April 1. Interest is to be

Question:

Omnicity had a $1,250,000, 7% bond available for issue on April 1. Interest is to be paid on the last day of each month. On April 14 and 25, bonds with a of $890,000 and $360,000, respectively, were issued at par. Record the entries for April 14, 25, and 30.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...