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E9-23(Static) Computing the Issue Price of a Bond with Analysis of Net Earnings and Cash...

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Accounting

E9-23(Static) Computing the Issue Price of a Bond with Analysis of Net Earnings and Cash Flow Effects LO9-3,9-8
Imai Company issued a $1 million bond that matures in five years. The bond has a 9 percent coupon rate. When the bond was issued, the market interest rate was 8 percent. The bond pays interest twice per year, on June 30 and December 31. Use Table 8C.1, Table 8C.2.
Required:
Record the issuance of the bond on June 30.(Round time value factor to 4 decimal places. Enter your answer in dollars not in millions. Round intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Journal entry worksheet
1
Record the issuance of bond on June 30th.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
image

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