Question
Krug Corp. issued a $10,000 bond on January 1, 2020. The face rate of interest is 6% and has a maturity life of ten years.
Krug Corp. issued a $10,000 bond on January 1, 2020. The face rate of interest is 6% and has a maturity life of ten years. The market rate of interest is 8%. Interest is paid on December 31st of each year.
Required: Prepare the necessary general journal entries (to the nearest penny) on:
- January 1, 2020
- December 31, 2020
- December 31, 2021
- December 31, 2030
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Financial And Managerial Accounting For MBAs
Authors: Peter D. Easton
6th Edition
1618533592, 9781618533593
