gerona company authorized the sale of 300000 of


Gerona Company authorized the sale of $300,000 of 10%, 10-year debentures on January 1, 2008. Interest is payable on January 1 and July 1. The entire issue was sold on April 1, 2008, at 103 plus accrued interest. On April 1, 2013, $100,000 of the bond issue was reacquired and retired at 99 plus accrued interest. On June 30, 2013, the remaining bonds were reacquired at 98 plus accrued interest and refunded with an issue of $200,000 of 9% bonds which were sold at 100.

Give journal entries for 2008 & 2013 (through June). Assume straight line amortization on the premium or discount. Ignore any potential impact of year to year market value changes on the accounting for the bonds)

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Cost Accounting: gerona company authorized the sale of 300000 of
Reference No:- TGS0220653

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