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Exercise 10-5 Straight-Line: Recording bond... Exercise 10-5 Straight-Line: Recording bond...

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Accounting

Exercise 10-5 Straight-Line: Recording bond...
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Exercise 10-5 Straight-Line: Recording bond issuance and discount amortization LO P2 Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $110,000 and semiannual interest payments. (0) (1) (2) Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment Unamortized Discount $6,933 6,066 5,199 Carrying Value $103,067 103,934 104,801 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1 (b) The first interest payment on June 30. (c) The second interest payment on December 31. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $110,000 cash January 1. Note: Enter debits before credits. Debit Credit General Journal Date 1 of 1 Ch 10 ex 10- 56 Saved (b) The first interest payment on June 30. (c) The second interest payment on December 31. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $110,000 cash January 1. Note: Enter debits before credits Date January 01 General Journal Debit Credit View general Journal Clear entry Record entry

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