Question
On January 1, 2016, Technicians Credit Union (TCU) issued 10%, 10-year bonds payable with face value of $100,000. The bonds pay interest on June 30
On January 1, 2016, Technicians Credit Union (TCU) issued 10%, 10-year bonds payable with face value of $100,000. The bonds pay interest on June 30 and December 31. The issue price of the bonds is 95.
Journalize the following bond transactions:
a.Issuance of the bonds on January 1, 2016.
b.Payment of interest and amortization on June 30, 2016.
c.Payment of interest and amortization on December 31, 2016.
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
