Question
On January 1, 2018, Compex Corp. issued $1,000,000 par value, 6%, 3-year bonds when the market rate of interest was 7%. Interest is payable annually
On January 1, 2018, Compex Corp. issued $1,000,000 par value, 6%, 3-year bonds when the market rate of interest was 7%. Interest is payable annually each December 31. Compex incurred bond issue costs of $24,000. What is the journal entry when Compex issued the bonds? Prepare the amortization table for the bonds.
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Fundamentals Of Accounting Course 2
Authors: Claudia B. Gilbertson
9th Edition
053844827X, 9780538448277
