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2 On January 1, 2017. ABC Company issued $20,000,000 of five year 12% bonds with interest at an effective interest of 10%. Interest is paid
2 On January 1, 2017. ABC Company issued $20,000,000 of five year 12% bonds with interest at an effective interest of 10%. Interest is paid semiannually onJune 30 and December31. Journalize the following entries to record the following: of the bonds on January 1, 2017, First interest payment on June 30 and amortization of bond premium or discount for the first six months using the straight line method of amortization. b 3 On January 1, 2017 XYZ Company issued $20,000,000 of five year 9% bonds with interest at an effective interest rate of 11%. Interest is paid semiannually on June 30 and December 31. Journal the following entries to record the following: a Sale of the bonds on January 1, 2017 b First interest payment on June 30 and amortization of bond premium or discount for the first six months using the straight line method of amortization
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