Question
Urgent DON'T copy-paste from another expert because I already saw their answer please don't write with your hands Meal Corporation obtained authorization to issue 30-year
Urgent
DON'T copy-paste from another expert because I already saw their answer
please don't write with your hands
Meal Corporation obtained authorization to issue 30-year bonds with a face value of 15 million. The bonds are dated May 1, 2020, and have a contract rate of interest of 8 percent. They pay interest on November 1 and May 1. The bonds were issued on July 1, 2020, at 100 plus two months accrued interest.
Instructions:
Prepare the necessary journal entries in general journal form on the following.
(a). August 1, 2020, to record the issuance of the bonds.
(b). November 1, 2020, to record the first semi-annual interest payment on the bond issue.
(c). December 31, 2020, to record interest expense accrued through year-end. (Round to the nearest full number.)
(d) .May 1, 2021, to record the second semi-annual interest payment. (Round to the nearest full number.)
please don't write with your hands
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