HOMEWORK

LB Corp. sold $$59,000,000,8\%,10-$year bonds on January $1,2023.$ The bonds apply interest on July $1$ and

January $1.$ BC uses the staight$-$line method to amortize bond premium or discount. Assume no interest

accrued on June $30.$

Instructions

Prepare all the necessary journal entries to record the issuance of the bonds and bond interest

happens for $2022,$ assuming that the bonds sold at $105.$

Prepare journal entries as in part $(1)$ assuming that the bond sold at $98.$

Show statement of financial position presentation for each bond issued at December $31,2022.$