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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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