Question
The Bray Co. accuired $30,000 of the Honey Sales Co. 7% bonds, interest is paid semi annually with the bonds maturing in Five years. The
The Bray Co. accuired $30,000 of the Honey Sales Co. 7% bonds, interest is paid semi annually with the bonds maturing in Five years.
The Bray Co. paid $32,626 for the bonds.
Prepare an amortization table
Prepare journal entries for the bond on the sale date. Prepare journal entries for the interest payment made in the 1st year.
Please use the effective interest method.
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Effective Auditing For Corporates Ensuring That All The Risks Are Covered
Authors: Bloomsbury, Joe Oringel
1st Edition
1849300445, 978-1849300445
