LINE DEBIT CREDIT DATE GENERAL JOURNAL 1/1/2017 2 Date Transaction 1/1/2017 Jackson Company issued $210,000...
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LINE DEBIT CREDIT DATE GENERAL JOURNAL 1/1/2017 2 Date Transaction 1/1/2017 Jackson Company issued $210,000 of bonds at a price of 96.00% of face value. The bonds have a maturity of 3 years and an interest rate of 5.00% with annual interest payments. (Use dropdowns to see the accounts in the journal) 12/31/2017 Make the first interest entry and amortize a portion of the bond discount. 3 4 5 12/31/2017 6 7 8 9 12/31/2018 12/31/2018 Make the second interest entry. 10 11 121 13 12/31/2019 12/31/2019 Make the third interest entry. 14 15 16 17 12/31/2019 18 12/31/2019 Make the entry to pay off the face amount of the bonds at the end of year 3. 19 20
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