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P6. Coyote Company issued 10,000 shares of 4-year, 6%, $1,000 par value bonds (i.e., par value/share = $1,000) for 110% of the par value on
P6. Coyote Company issued 10,000 shares of 4-year, 6%, $1,000 par value bonds (i.e., par value/share = $1,000)
for 110% of the par value on 1/1/2022. The interest will be paid on 12/31 of each year.
Instructions: Prepare any necessary journal entries for the bond on
- 1/1/2022,
- 12/31/2022,
- 12/31/2024, the maturity date of the bond.
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