Question
A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 20X9. Interest is paid on July 1and January 1. The proceeds from
A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 20X9. Interest is paid on July 1and January 1. The proceeds from the bond issue amount to $14,703,109. The company uses the effective interest method for amortization and has fiscal year end of December 31.
Prepare the journal entries for the following dates: 01/01/20X9 and 12/31/20X9 .
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College Accounting Ch 1-12
Authors: Dansby
5th Edition
0763834955, 978-0763834951
