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On January 31, 2018, Pristar Logistics, Inc., issued five-year, 12% bonds payable with a face value of $14,000,000. The bonds were issued at 95 and
On January 31, 2018, Pristar Logistics, Inc., issued five-year, 12% bonds payable with a face value of $14,000,000. The bonds were issued at 95 and pay interest on January 31 and July 31. Pristar Logistics amortizes bond discounts using the straight-line method. Read the reguirement. a. Record the issuance of the bond payable on January 31, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Requirement Jan 31 1. Record (a) the issuance of the bonds on January 31, 2018, (b) the semiannual interest payment and amortization of the bond discount on July 31, 2018, and (c) the interest accrual and discount amortization on December 31, 2018. b. Record the payment of semiannual interest and amortization of bond discount on July 31, 2018 Journal Entry Print Done Date Accounts Debit Credit July 31 c. Record the interest accrual and discount amortization on December 31, 2018. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Dec 31 Choose from any list or enter any number in the input fields and then continue to the next
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