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18: On August 1, Stuart Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000.Interest is payable semiannually on February 1 and August
18: On August 1, Stuart Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000.Interest is payable semiannually on February 1 and August 1.Present the entries to record the following transactions for the current year: (a) Issuance of the bonds. (b) Accrual of interest and amortization of bond discount for the year, on December 31, using the straight-line method
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