On January 1, a co. issues bonds dated Jan 1 with a par value of 330,000. the bond mature in 5 years. the contract rate is 9%, and the interest is paid semiannually on June 30 and dec 31. the market rate is 8% and the bonds are sold for 343,395. the journal entry to record the issuance of the bond is?

On January 1, a co. issues bonds dated Jan 1 with a par value of 330,000. the bond mature in 5 years. the contract rate is 9%, and the interest is paid semiannually on June 30 and dec 31. the market rate is 8% and the bonds are sold for 343,395. the journal entry to record the issuance of the bond is?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 2PB: Charleston Inc. issued $200,000 bonds with a stated rate of 10%. The bonds had a 10-year maturity...

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