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Southwest Consulting issues $900,000 of 9% bonds on July 1, 2020. Additional information on the bond issue is as follows: Bond date January 1, 2020
Southwest Consulting issues $900,000 of 9% bonds on July 1, 2020. Additional information on the bond issue is as follows: Bond date January 1, 2020 Maturity date January 1, 2030 Yield rate 11% Interest payment dates June 30, December 31 On September 1, 2025, the company called and cancelled 30% of the bonds for the market price of 103 plus accrued interest. Record the entry for the sale of the bond. (Note: interest was paid on June 30, 2025)
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