Question
On April 1 Sing Inc issued $1,000,000 of 10 year, 11% bonds, with interest payable semiannually on April 1 and October 1 at an effective
On April 1 Sing Inc issued $1,000,000 of 10 year, 11% bonds, with interest payable semiannually on April 1 and October 1 at an effective interest rate of 12%, receiving cash of $942,645. Journalize the entries to record the transactions
April 1 Sold the bonds
Oct 1 Made first interest payment and amortized disocunt for 6 months using the straight line method.
JOURNAL
DATE DESCRIPTION DEBIT CREDIT
On March 1 Sly Inc issued $700,000 of 10 year, 11% bonds at an effective interest rate of 10% receiving $743,625. Interest is payable semiannually on March 1 and September 1. Journalize the entries to record the transactions
April 1 Sold the bonds
Oct 1 Made first interest payment and amortized disocunt for 6 months using the straight line method.
JOURNAL
DATE DESCRIPTION DEBIT CREDIT
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HRD Audit Evaluating The Human Resource Function For Business Improvement
Authors: RAO
1st Edition
0761993509, 978-0761993506
