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Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $104,000 and semiannual interest payments. Semiannual Period-End (0)
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $104,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance (1) June 30, first payment (2) December 31, second payment Unamortized Discount $ 6,813 5,961 5,109 Carrying V $ 97,187 98,039 98,891 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31.
Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $104,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance (1) June 30, first payment (2) December 31, second payment Unamortized Discount $ 6,813 5,961 Carrying V $ 97,187 98,039 5,109 98,891 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31.
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
