S14-6 Journalizing bond transactions Power Company issued a $1,000,000, 5%, 5-vear bond payable at face value on January 1, 2018. Interest is paid semiannually on January 1 and July 1. Requirements 1. Journalize the issuance of the bond payable on January 1, 2018. 2. Journalize the payment of semiannual interest on July 1, 2010.

S14-6 Journalizing bond transactions Power Company issued a $1,000,000, 5%, 5-vear bond payable at face value on January 1, 2018. Interest is paid semiannually on January 1 and July 1. Requirements 1. Journalize the issuance of the bond payable on January 1, 2018. 2. Journalize the payment of semiannual interest on July 1, 2010.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter22: Corporations: Bonds

Section: Chapter Questions

Problem 2CE

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