Question
Exercise 14-4 Shamrock Company issued $612,000of9%, 20-year bonds on January 1, 2017, at101. Interest is payable semiannually on July 1 and January 1. Shamrock Company
Shamrock Company issued $612,000of9%, 20-year bonds on January 1, 2017, at101. Interest is payable semiannually on July 1 and January 1. Shamrock Company uses the straight-line method of amortization for bond premium or discount.
| 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. |
Prepare the journal entries to record the following
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
