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CK Brother Limited issued 150,000, 10%, 10 year bonds on Jan 1 2009, which is dated as of Jan 1, 2009. The effective interest rate
CK Brother Limited issued 150,000, 10%, 10 year bonds on Jan 1 2009, which is dated as of Jan 1, 2009. The effective interest rate on the bond is 8%. The bond pays interest semi annually on June 30 and Dec 31, with the principal to be paid at the end of the 10th years. The company uses effective interest amortization.
Issuance price: 170386
Prepare Journal Entries on each of the following dates: June 30 2009 and Dec 31 2009 (show calculations)
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