Golden Inc. issues $4 million, 5-year, 10% bonds at 102, with interest payable annually on January 1.
Question:
Golden Inc. issues $4 million, 5-year, 10% bonds at 102, with interest payable annually on January 1. The straight-line method is used to amortize bond premium.
Instructions
a. Prepare the journal entry to record the sale of these bonds on January l , 2022.
b. Prepare the adjusting journal entry to record interest expense and bond premium amortization on December 31, 2022.
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a Journal Entry to Record the Sale of Bonds on January 1 2022 Debit Cash 4080000 Credit Bonds Pay...View the full answer
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Related Book For 
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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