Question
I need help on this. I need to fill in these boxes. Yung Corporation sold $2,209,000, 6%, 5-year bonds on January 1, 2014. The bonds
I need help on this. I need to fill in these boxes. Yung Corporation sold $2,209,000, 6%, 5-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. Yung Corporation uses the straight-line method to amortize bond premium or discount. I need to Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming that the bonds sold at 106, Prepare journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming that the bonds sold at 95, Show the balance sheet presentation for the bond issue at December 31, 2014, using the 106 selling price, and Show the balance sheet presentation for the bond issue at December 31, 2014, using the 95 selling price. Thank You!!
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