Homework Answers
| a | ||||
| Debit | Credit | |||
| July 1,2013 | Cash | 4704000 | =4800000*0.98 | |
| Discount on Bonds payable | 96000 | |||
| Bonds payable | 4800000 | |||
| b | ||||
| Dec. 31,2013 | Interest expense | 230400 | ||
| Discount on Bonds payable | 2400 | =96000/40 | ||
| Cash | 228000 | =4800000*9.5%*6/12 | ||
| c | ||||
| June 30,2033 | Interest expense | 230400 | ||
| Discount on Bonds payable | 2400 | =96000/40 | ||
| Cash | 228000 | =4800000*9.5%*6/12 | ||
| June 30,2033 | Bonds payable | 4800000 | ||
| Cash | 4800000 |
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