Solution:
Journal Entries | |||
Date | Account title | Debit | Credit |
01-Jan | Cash ($572000*106%) | $6,06,320 | |
2022 | Premium on Bond payable | $34,320 | |
Bonds payable | $5,72,000 | ||
31-Dec | Interest Expense | $50,336 | |
2022 | Premium on bond payable ($34320/30) | $1,144 | |
Interest payable ($572000*9%) | $51,480 | ||
01-Jan | Interest payable | $51,480 | |
2023 | Cash | $51,480 | |
31-Dec | Bond Payable | $5,72,000 | |
2051 | Cash | $5,72,000 |
Our Cast22.09,30 eur bends on Jan 1. 2003, 106. T y h e analyn w ry...