Solved: The payment of interest on june 30 2014 using straight-line, Accounting Basics

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The payment of interest on june 30 2014 using straight-line

Wefald Company issued $607,000, 8-year, 6 percent bonds on January 1, 2014. The bonds sold for $572,000. Interest is payable semiannually each June 30 and December 31.

Record the sale of the bonds on January 1, 2014, and the payment of interest on June 30, 2014, using straight-line amortization. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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Accounting Basics: The payment of interest on june 30 2014 using straight-line

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