Question
Landry, Inc issues bonds with the following information. Landry, Inc Bond Issuance Description Data Par Value 1,000 Term 2 years Contract Interest Rate 3% Market
Landry, Inc issues bonds with the following information.
| Description | Data |
|---|---|
| Par Value | 1,000 |
| Term | 2 years |
| Contract Interest Rate | 3% |
| Market Interest Rate | 2.5% |
| Issue Price | 98 |
Prepare the journal entry to record the issuance of one bond.
DR:
:
CR:
Prepare the journal entry to record the semi annual interest payment on one bond.
DR:
:
CR:
Prepare the journal entry to retire the bond.
DR:
CR:
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Employee Relations Audits
Authors: C. Jennings, W. E. J. McCarthy, R. Undy
1st Edition
0415786614, 978-0415786614
