IMPORTANT

Q5. Al Sharjah Company issued OMR 300,000 of 11% bonds on January 1, 2011. The bonds are due January 1, 2016, with interest payable each July 1 and January 1. The bonds are issued at face value. Assume the bonds were issued at 108.11 to yield 8%. Prepare the journal entries for a) January 1, b) July 1, and c) December 31