Question
IN EXCEL PLEASE Ajax issued $2,500,000 in bonds on January 1, 2014 at a stated rate of 4% and a yield of 5%. Interest is
IN EXCEL PLEASE
Ajax issued $2,500,000 in bonds on January 1, 2014 at a stated rate of 4% and a yield of 5%. Interest is due on June 30th and December 31st of each year and the bond matures on December 31, 2015.
Prepare a journal entry for the issuance of the bonds on January 1, 2014.
Prepare a journal entries for the payment of interest on June 30, 2014.
Prepare a journal entry for the retirement of the bonds at maturity.
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Advanced Financial Accounting
Authors: Theodore Christensen, David Cottrell, Cassy Budd
12th Edition
1260165116, 9781260165111
