Question
Paulson Company issues 8%, four-year bonds, on December 31, 2017, with a par value of $108,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying
Paulson Company issues 8%, four-year bonds, on December 31, 2017, with a par value of $108,000 and semiannual interest payments.
| Semiannual Period-End | Unamortized Discount | Carrying Value | ||||||
| (0) | 12/31/2017 | $ | 6,893 | $ | 101,107 | |||
| (1) | 6/30/2018 | 6,031 | 101,969 | |||||
| (2) | 12/31/2018 | 5,169 | 102,831 | |||||
Use the above straight-line bond amortization table and prepare journal entries for the following.
- (a) The issuance of bonds on December 31, 2017.
- (b) The first interest payment on June 30, 2018.
- (c) The second interest payment on December 31, 2018.
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Computer Accounting With QuickBooks Pro 2010
Authors: Donna UlmerDonna Kay
12th Edition
0077408756, 9780077408756
