Larkspur Co sells $461,000 of 8% bonds on March 1, 2020 The bonds pay interest on September 1 and March 1 The due date of the bonds is September 1, 2023 The bonds yield 12% Give entries through December 31, 2021.
rnprepare all of the relevant journal entries from the time of sale until the date indicated. Use the effective-interest method for discount and premium amortization (construct amortization tables where applicable). Amortize premium or discount on interest dates and at year-end. (Assume that no reversing entries were made).