Paulson Company issues 7%, four-year bonds, on January1 of this year, with a par value of $91,000 and semiannual interest payments. (e) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,553 5,734 4,915 Carrying Value $84,447 85,266 86,085 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first iterest payment on June 30. (c) The second interest pavment on December 31
Paulson Company issues 7%, four-year bonds, on January1 of this year, with a par value of $91,000 and semiannual interest payments. (e) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,553 5,734 4,915 Carrying Value $84,447 85,266 86,085 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first iterest payment on June 30. (c) The second interest pavment on December 31
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter11: Liabilities: Bonds Payable
Section: Chapter Questions
Problem 11.5APR
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