ACCOUNTING VERBAL PROBLEMS

III PROBLEMS (80 points): 1) On January 1, 2022, Milton Corporation issued Bonds for $ 600,000 at 9% for 5 years at 96%. The Bands pay semiannual interest on January 1 and July 1. The corporation uses the straight-line method to amortize the discount and closes books as of December 31. Prepare the wage entries for the bond issue, the payment of interest and the necessary adjustments as of December 31. (18 ml