Exercise 9-20 Recording Bonds at a Premium and a Discount On January 1, 2012, Ha

Question

Exercise 9-20 Recording Bonds at a Premium and a Discount On January 1, 2012, Hampton, Inc. issues $3,000,000 of 5-year, 10% bonds with interest payable on July 1 and January 1. Hampton prepares financial statements on December 31 and amortizes any discount or premium using the straight-line method. Required: Hide a. Prepare all journal entries necessary in 2012 assuming the bonds were issued at 96. For a compound entries, if an amount box does not require an entry, leave it blank. If required, round to the nearest dollar. 2012 Jan. 1 2012 July 1 2012 Dec. 31 Hide b. Prepare all journal entries necessary in 2012 assuming the bonds were issued at 103. For a compound entries, if an amount box does not require an entry, leave it blank. If required, round to the nearest dollar. 2012 Jan. 1 2012 July 1 2012 Dec. 31

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Exercise 9-20 Recording Bonds at a Premium and a Discount On January 1, 2012, Ha

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