Question
Hello! Can I have a little bit of help with this question? On April 1, 2016 Alpha Company sells $1,000,000 face value of 10% five
Hello! Can I have a little bit of help with this question?
On April 1, 2016 Alpha Company sells $1,000,000 face value of 10% five year bonds which call for semiannual interest payments. The bonds are dated April 1, 2016 so these bonds are issued on an interest date. The market rate at the date of issue is 8%. Use the straight line method of amortization of any bond premium or discount. For simplicity, use a 360-day year and 30 day months for all calculations.
- Record the journal entries for the issuance of the bonds
- RecordthejournalentriesforthefirstinterestpaymentdueonOctober1,2016.Assumethatinteresthasnotbeenaccruedateachmonthend.
- Ihaveattachedtheanswersheetformat I am looking for.
- Answers as soon as possible are helpful. I would like in one hour from now, please.
DATE ACCOUNT TITLE DEBIT CREDIT
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Introduction to Financial Accounting
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
11th edition
978-0133251111, 013325111X, 0133251039, 978-0133251036
