Homework Answers
Solution:
| Date | Particulars | Debit | Credit |
| 30-Jun | Interest expense | $4,721 | |
| Discount On bond payable [(120000-115830)/ 8] | $521 | ||
| Bonds payable ($120000*7%*6/12) | $4,200 | ||
| Date | Particulars | Debit | Credit |
| 31-Dec | Interest expense | $4,721 | |
| Discount On bond payable [(120000-115830)/ 8] | $521 | ||
| Bonds payable ($120000*7%*6/12) | $4,200 |
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displayed below.]
Duval Co. issues four-year bonds with a $106,000 par value on
January 1, 2019, at a price of $100,944. The annual contract rate
is 8%, and interest is paid semiannually on June 30 and December
31.
Prepare journal entries to record the first
two interest payments. (Round your answers to the nearest
dollar amount.)
2) Record the interest
payment and discount amortization on December 31, 2019.
Options for the General Journal...
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