Question
1. Aloha Cruise issued $170,000 in 6%, 10-year bonds (payable on December 31, 2028) on December 31, 2018, for $156,776. Interest is paid on June
1. Aloha Cruise issued $170,000 in 6%, 10-year bonds (payable on December 31, 2028) on December 31, 2018, for $156,776. Interest is paid on June 30 and December 31. The market rate of interest is 8%.
Required:
Prepare journal entries for the payment of interest on June 30 and December 31, 2018.
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Managerial Economics In A Global Economy
Authors: Dominick Salvatore
9th Edition
0190848251, 9780190848255
