Accounting for long term liabilities #3

Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $90,000 and semiannual interest payments. Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1 . (b) The first interest payment on June 30 . (c) The second interest payment on December 31. Journal entry worksheet Record the issuance of the bonds on January 1. Note: Enter debits before credits. Journal entry worksheet Record the first interest payment on June 30 . Note: Enter debits before credits. Journal entry worksheet Record the second interest payment on December 31. Note: Enter debits before credits