Question
On June 30, DurkinDurkin Limited issues 9%, 20-year bonds payable with a face value of $130,000. The bonds are issued at 90 and pay interest
On June 30, DurkinDurkin Limited issues 9%, 20-year bonds payable with a face value of $130,000. The bonds are issued at 90 and pay interest on June 30 and December 31.
Requirements
1. Journalize the issuance of the bonds on June 30.
2. Journalize the semiannual interest payment and amortization of the bond discount on December 31.
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
12th Edition
0324381980, 978-0324381986
