Kershaw Electric sold $6,000,000 10%, 15-year bonds on January 1, 2019 The bonds

Question

Kershaw Electric sold $6,000,000 10%, 15-year bonds on January 1, 2019 The bonds were dated January 1, 2019, and paid interest on January at 98. ? The bonds were sold Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2019 HOW LEST OF ACCOUNTS At December 31, 2019, $8,000 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term hability at December 31, 2019. (Enter account name only and do not provide descriptive information Kershaw Electric Balance Sheet

Explanation / Answer

Journal entry :

Balance sheet presentation :

Journal entry :

Date accounts & explanation debit credit Jan 1,2019 Cash 5880000 Discount on bonds payable 120000 Bonds payable 6000000 (To record issue bonds payable

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