Question
Hot Company issued $500,000 of 5-year, 9% bonds at 96 on January 1, 2012. The bonds pay interest twice a year. Instructions (a) Prepare the
Hot Company issued $500,000 of 5-year, 9% bonds at 96 on January 1, 2012. The bonds pay interest twice a year. Instructions (a) Prepare the journal entry to record the issuance of the bonds. (b) Prepare the journal entry to record the first interest payment (c) Repeat the requirements from part (a), assuming the bonds were issued at 105.
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Internal Auditing Assurance And Advisory Services
Authors: Kurt R. Reding, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Cris Riddle
3rd Edition
0894137409, 978-0894137402
