Question
Duvall Co. issues four-year bonds with a $103,000 par value on January 1, 2017, at a price of $99,000. The annual contract rate is 6%,
Duvall Co. issues four-year bonds with a $103,000 par value on January 1, 2017, at a price of $99,000. The annual contract rate is 6%, and interest is paid semiannually on June 30 and December 31.
Prepare journal entries to record the first two interest payments. (Round your answers to the nearest dollar amount)
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Financial Accounting Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
1111464936, 978-1111464936
