Question
Cougar Corp. sold ,2-year, 4.5%, 100,000, bonds on January 1, 2021 for 102,000. Interest is paid semi-annually on June 30 and December 31. What is
Cougar Corp. sold ,2-year, 4.5%, 100,000, bonds on January 1, 2021 for 102,000. Interest is paid semi-annually on June 30 and December 31.
What is the journal entry to record the issuance of the Bond on 1/1/2021?
Complete the amortization schedule below.
| Period ended | Cash Paid | Interest expense | amortization | Carrying amount |
| 06/30/2021 |
|
|
|
|
| 12/31/2021 |
|
|
|
|
| 06/30/2022 |
|
|
|
|
| 12/31/2022 |
|
|
|
|
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Financial Accounting Theory
Authors: Craig Deegan
3rd Edition
0070277265, 978-0070277267
