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Cupola Fan Corporation issued 1 0 % , $ 4 8 0 , 0 0 0 , 1 0 - year bonds for $ 4
Cupola Fan Corporation issued $year bonds for $ on June
Debt issue costs were $
Interest is paid semiannually on December and June
One year from the issue date July the corporation exercised its call privilege and retired the bonds for $
The corporation uses the straightline method both to determine interest expense and to amortize debt issue costs.
Required:
to Prepare the journal entries to record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December and June and call of the bonds according to International Financial Reporting Standards.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
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