Make a journal entry to record the issuance of bonds, Finance Basics

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Make a journal entry to record the issuance of bonds

Question: Martin Corp issued USD 3,000,000 of 8 percent 20 year bonds payable at par value on Jan 1, 2007. Interest is payable each June 30 and Dec 31. Make a general journal entry to record the issuance of the bonds Jan 1, 2007. Make a general journal entry to record the first interest payment on June 30, 2007.

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Finance Basics: Make a journal entry to record the issuance of bonds

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