Question
On January 1, a company issues bonds dated January 1 with a par value of $760,000. The bonds mature in 3 years. The contract rate
On January 1, a company issues bonds dated January 1 with a par value of $760,000. The bonds mature in 3 years. The contract rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $742,000. The journal entry to record the first interest payment using straight-line amortization is?
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Financial Accounting
Authors: Carl Warren, James M. Reeve, Philip E. Fess
8th Edition
0324025394, 978-0324025392
