Homework Answers
| a | ||||
| Debit | Credit | |||
| June 30 | Cash | 119600 | =130000*0.92 | |
| Discount on Bonds payable | 10400 | |||
| Bonds payable | 130000 | |||
| b | ||||
| Debit | Credit | |||
| Dec 31 | Interest expense | 8840 | ||
| Discount on Bonds payable | 1040 | =10400/10 | ||
| Cash | 7800 | =130000*12%*6/12 |
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