Question
Oriole Company issued $372,000, 9%, 15-year bonds on December 31, 2021, for $342,240. Interest is payable annually on December 31. Oriole uses the straight-line method
Oriole Company issued $372,000, 9%, 15-year bonds on December 31, 2021, for $342,240. Interest is payable annually on December 31. Oriole uses the straight-line method to amortize bond premiums or discounts.
(a)
Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
| Date | Account Titles and Explanation | Debit | Credit |
|---|---|---|---|
| Dec. 31, 2021 |
| ||
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Authors: Barak Engel
1st Edition
1138197890, 978-1138197893
