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1) lehigh corporation issued $300,000 of 8 perecent, 30 year bonds at 106 on jan. 1, year 1. straight line amortization is used. At december

1) lehigh corporation issued $300,000 of 8 perecent, 30 year bonds at 106 on jan. 1, year 1. straight line amortization is used. At december 31, year 2, what is the carrying value of the bonds?

2) land is acquired by issuing 500 shares of $20 par common stock. the land has a current market value of $12,000. the journal entry requires a:

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