Question
On the first day of the fiscal year, a company issues a $445,000, 12%, 10-year bond that pays semiannual interest of $26,700 ($445,000 x 12%
On the first day of the fiscal year, a company issues a $445,000, 12%, 10-year bond that pays semiannual interest of $26,700 ($445,000 x 12% x 1/2), receiving cash of $467,300. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method.
If an amount box does not require an entry, leave it blank.
| fill in the blank 2 | fill in the blank 3 | ||
| fill in the blank 5 | fill in the blank 6 | ||
| fill in the blank 8 | fill in the blank 9 |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Steinbart Romney B.
9th International Edition
0470409460, 978-0470409466
