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On January 1, 2020, Bramble Corp. issued $4300000, 10-year, 4% bonds at 102. Interest is payable annually on January 1. The journal entry to record
On January 1, 2020, Bramble Corp. issued $4300000, 10-year, 4% bonds at 102. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2020 is Cash Bonds Payable 4300000 4300000 Premium on Bonds Payable Cash Bonds Payable 86000 4300000 4386000 4386000 Cash Bonds Payable 4386000 4386000 4300000 Cash Bonds Payable Premium on Bonds Payable 86000 Mull Waterway Industries issues a $1330000, 8%, 20-year mortgage note on January 1. The terms provide for annual installment payments, exclusive of real estate taxes and insurance, of $135394. After the first installment payment, the principal balance is Qu Mult $1194606 $1330000 $1223600 $1301006 Vie Mui On January 1, 2020,52160000, 10-year 10% bonds, were issued for $2069000. Interest is paid annually on January 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the amortization amount per year is $206900 $9100 $4550 $7583
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