Question
On January 1, 2021, Humphrey Corporation issued $400,000, 6%, 10-year bonds dated January 1, 2011, at 103. The bonds pay semi-annual interest on January 1
On January 1, 2021, Humphrey Corporation issued $400,000, 6%, 10-year bonds dated January 1, 2011, at 103. The bonds pay semi-annual interest on January 1 and July1. The company uses the straight-line method of amortization and has a calendar year end.
Instructions
Make the journal entries that Bradley Corporation would make related to this bond issue through January 1, 2022.Be sure to indicate the date on which the entries would be made.
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Cost management a strategic approach
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
5th edition
73526940, 978-0073526942
