Refer to the amortization schedule prepared in Problem 15-3B. Assume a January 31 year-end. Required Part 1

Question:

Refer to the amortization schedule prepared in Problem 15-3B. Assume a January 31 year-end.

Required
Part 1
Record the following entries:
a. Issuance of the bonds on September 1, 2017,
b. Adjusting entry to accrue bond interest and premium amortization on January 31, 2015,
c. Payment of interest on March 1, 2015.

Part 2
Show how the bond will appear on the under long-term liabilities at January 31, 2017.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...