Question
Synergy Corporation is authorized to issue $1,090,000 of 4% bonds. Interest on the bonds is payable semiannually; the bonds are dated January 1, 2019, and
Synergy Corporation is authorized to issue $1,090,000 of 4% bonds. Interest on the bonds is payable semiannually; the bonds are dated January 1, 2019, and are due December 31, 2023.
Required:
| Prepare the journal entries to record the following: |
| a. | January 1, 2019 | Sold the bonds at par |
| b. | June 30, 2019 | First interest payment |
| c. | December 31, 2019 | Second interest payment |
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Managerial Accounting
Authors: Ronald W Hilton
7th Edition
0073022853, 978-0073022857
