Question
Silva, Inc issues bonds with the following information. Silva, Inc Bond Issuance Description Data Par Value 20,000 Term 4 years Contract Interest Rate 2% Market
Silva, Inc issues bonds with the following information.
| Description | Data |
|---|---|
| Par Value | 20,000 |
| Term | 4 years |
| Contract Interest Rate | 2% |
| Market Interest Rate | 3% |
| Issue Price | 102 |
Prepare the journal entry to record the issuance of one bond.
DR:
:
CR:
Prepare the journal entry to record the semi annual interest payment on one bond.
DR:
:
CR:
Prepare the journal entry to retire the bond.
DR:
CR:
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Will You Be My Internal Audit Manager
Authors: Benito Gross
1st Edition
B09774C8CK, 979-8521636563
