Question
On January 1, 2019, Toyota Company issued a two-year, $10,000, 10% bond. The interest is payable semi-annually each June 30th and December 31. The issue
On January 1, 2019, Toyota Company issued a two-year, $10,000, 10% bond. The interest is payable semi-annually each June 30th and December 31. The issue price was based on an 12% effective interest rate.
Please fill in the amortization table below (Use excel or appropriate factor(s) from the tables provided)
Formatting: Please round to the nearest dollar and do not use dollar signs (i.e. enter '1,000' rather than '$1,000'). All numbers should be positive.
Interest Payment | Interest Expense | Amortization | Unamortized Discount or Premium | Bonds Payable, net | |
January 1st 2019 | |||||
June 30th 2019 | xxx |
Given the Toyota bond information from the question above, what journal entry would Toyota need to make on the date of maturity of the bonds?
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