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Kenley Corporation issued $2,500,000 of 8% 25 year bonds on January 1st. Interest is paid on January and July 1st. They were issued under three
Kenley Corporation issued $2,500,000 of 8% 25 year bonds on January 1st. Interest is paid on January and July 1st. They were issued under three different situations. The first was at face value on January 1st. The second was issued at 101 on January 1st and the third was issued at 99 on January 1st. Prepare two journal entries for each situation.
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