Journalizing bond transactions—issuance between interest payment dates [10 min]
Silk Realty issued $300,000 of 8%, 10-year bonds payable at par value on May 1, 2012, four months after the bond’s original issue date of January 1, 2012.
Requirements
1. Journalize the issuance of the bonds payable on May 1, 2012.
2. Journalize the payment of the first semiannual interest amount on July 1, 2012.
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