Aloha cruise issued 170000 in 6 10-year bonds payable on, Accounting Basics

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Aloha cruise issued 170000 in 6 10-year bonds payable on

Question: 1. Aloha Cruise issued $170,000 in 6%, 10-year bonds (payable on December 31, 2028) on December 31, 2018, for $156,776. Interest is paid on June 30 and December 31. The market rate of interest is 8%.

Required: Prepare journal entries for the payment of interest on June 30 and December 31, 2018.

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Accounting Basics: Aloha cruise issued 170000 in 6 10-year bonds payable on

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Accounting Basics: Aloha cruise issued 170000 in 6 10-year bonds payable on

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