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Columbus company issued $90,000 of 10-year 6% bonds payable on January1, 2018. Columbus company pays interest each january 1 and july 1 and amortizes discount
Columbus company issued $90,000 of 10-year 6% bonds payable on January1, 2018. Columbus company pays interest each january 1 and july 1 and amortizes discount and premium by the straight line amortization method. The company can issue its bonds payable under various conditions:
Explanatio i Requirements Debi 1. Journalize Columbus Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required. 2. Journalize Columbus Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at 93. Explanations are not required. 3. Journalize Columbus Company's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at 103. Explanations are not required. 4. Which bond price results in the most interest expense for Columbus Company? Explain in detail. Print Done Requirement 1. Journalize Columbus Company's issuance of the bonds and first semiannual interest payment assuming the bonds we from any journal entries.) Journalize the issuance of the bond payable at face value. Accounts 2018 Date Debit Credit Jan. 1 Step by Step Solution
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