I have two different problems for each presented and I don\'t know how to begin:

Question

I have two different problems for each presented and I don't know how to begin:

Bellvue Company issues 10%, five-year bonds, on December 31, 2010, with a par value of $100,000 and semiannual interest payments.

Semiannual Period-End Unamortized Discount Carrying Value
(0) 12/31/2010 $ 7,360 $ 92,640
(1) 6/30/2011 6,624 93,376
(2) 12/31/2011 5,888 94,112

--------------------------------------------------------------------------------

Use the above straight-line bond amortization table and prepare journal entries to record the following.

1) The issuance of bonds on December 31, 2010:

Explanation / Answer

 The issuance of bonds on December 31, 2010.
Dr Cash 92,640
Dr Bonds Payable 100,000
Cr Discount on Bonds Payable 7,360

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.