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On January 1, 2015, Carsonie Electric issued $4,000,000, 6%, 10 year bonds at par. The...

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Accounting

On January 1, 2015, Carsonie Electric issued $4,000,000, 6%, 10 year bonds at par. The bonds pay semi- annual interest on June 30 December 31.image

Problem 2 On January 1, 2015, Carsonie Electric issued $4,000,000,6%, 10 vear bonds at par. The bonds pay semi- annual interest on June 30 December 31. Prepare the journal entry to record the issuance of the bonds on January 1, 2015 Date Titles Debit Credit Prepare the journal entry to record the June 30 and December 31 interest payments. (20 interest payment) Date Titles Debit Credit Prepare the journal entry to record the repayment on the maturity date January 1, 2025. Assume the final interest payment was made on December 31, 2024. Date Titles Debit Credit Calculate the total cost of borrowing for these bonds over their 10 year life

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