Question
Jones Company issued $900,000, 6%, 15-year bonds on January 1, 2017, at 106. Interest is payable annually on January 1. Jones uses straight-line amortization for
Jones Company issued $900,000, 6%, 15-year bonds on January 1, 2017, at 106. Interest is payable annually on January 1. Jones uses straight-line amortization for bond premium or discount. Prepare the journal entries to record the issuance of the bonds and the accrual of interest and the premium amortization on December 31, 2017. Also prepare amortization schedule for first 3 years
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
