Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2025, at 102. Interest is
Question:
Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2025, at 102. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount.
Instructions
Prepare the journal entries to record the following.
a. The issuance of the bonds.
b. The payment of interest and the related amortization on July 1, 2025.
c. The accrual of interest and the related amortization on December 31, 2025.
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a b c 1125 Cash 600000 x 102 Bonds Payable Premium on Bonds ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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