timer Asked: May 4th, 2015

Question description

Hot Company issued $500,000 of 5-year, 9% bonds at 96 on January 1, 2012. The bonds pay interest twice a year.


(a) Prepare the journal entry to record the issuance of the bonds.

(b) Prepare the journal entry to record the first interest payment

(c) Repeat the requirements from part (a), assuming the bonds were issued at 105.

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