Question
E14-4 (L01) EXCEL (Entries for Bond TransactionsStraight-Line) Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2017, at 102. Interest is payable
E14-4 (L01) EXCEL (Entries for Bond TransactionsStraight-Line) Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2017, at 102. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount.
Instructions Prepare the journal entries to record the following. (a) The issuance of the bonds. (b) The payment of interest and the related amortization on July 1, 2017. (c) The accrual of interest and the related amortization on December 31, 2017.
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Financial Accounting
Authors: Anne Britton, Chris Waterston
5th edition
273719300, 273719304, 978-0273719304
