On January 1, 2014. FWP sells $2 million of 8% bonds, at face value with interes

Question

On January 1, 2014. FWP sells $2 million of 8% bonds, at face value with interest to be paid at the end of each year Prepare the journal entries on the following dates (If no entry is required for a transaction/event, select "No Journal entity required" In the first account field. Enter your answers in dollars not in millions.) January 1, 2014 (the initial bond sale) March 31, 2014 (the end of the first quarter) December 31, 2014 (the payment of interest at the end of the year, assume that the interest owed for each of the first three quartets has been property accrued)

Explanation / Answer

Date Account Debit credit 1 jan 2014 cash 2,000,000 Bond payabe 2,000,000 [eing bond sold ]

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

---

---

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