Record the journal entry to record the bonds payable then


On january 1, a company issued 10%, five-year bond with a par value of 500,000. The market rate when the bonds were issued was 12%. The company received $450,000 cash for the bonds. Record the journal entry to record the bonds payable then using the straight line method, record the first semiannual interest payment die june 30.

Solution Preview :

Prepared by a verified Expert
Financial Accounting: Record the journal entry to record the bonds payable then
Reference No:- TGS02837560

Now Priced at $10 (50% Discount)

Recommended (98%)

Rated (4.3/5)