Wakefield Construction Company sold $10,000,000 five-year, 6% callable bonds on June 30, 2011. The bonds pay interest
Question:
Journalize the entries to record the following selected transactions:
1. Sale of the bonds on June 30, 2011.
2. First semiannual interest payment and discount amortization on December 31, 2011.
3. Sixth semiannual interest payment and discount amortization on June 30, 2014.
4. Wakefield Company called $5,000,000 of the bond issue at 103, the rate provided in the bond indenture, on June 30, 2014.
5. Seventh semiannual interest payment and discount amortization, on December 31, 2014.
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Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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