Assignment Problem: Entries for Bond Transactions-Straight-Line
Celine Dion Company issued $600,000 of 10% 20 -year bonds on January 1, 2014, at 102 Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount.
Instructions: Prepare the journal entries to record the issuance of the bonds.
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