On January 1st, 2020, CALA CORP (sold) $100,000 (100, $1000 par bonds to Company A)...
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On January 1st, 2020, CALA CORP (sold) $100,000 (100, $1000 par bonds to Company A) These 8% CALA 10-year bonds pay interest semi-annual (July 1 and January 1) At the time of purchase and the market rate is 6% REQUIRED A) Determine the price Company A paid for the bonds B) Make CALAS Journal entry for when they sold the bonds to Company A C) Make CALAs journal entry for when it makes its first interest payment (July 1) D) Make CALAs adjusting entry on December 31 2020
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