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On October 1, 2018 Bartley Corporation issued 5%, 10-year bonds with a face value of $8,000 at 104. Interest is paid on October 1 and
On October 1, 2018 Bartley Corporation issued 5%, 10-year bonds with a face value of $8,000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. Prepare journal entries for each of the following:
- Issue bond on October 1, 2018
- Accrue interest on December 31, 2018
- Pay interest on April 1, 2019
- Pay interest on October 1, 2019
Place your final response (journal entries) first; then show your work and label your numbers.
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