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  3. on july 1, 20y1, campbell issued $30,000,000 of 10

On July 1, 20Y1, Campbell issued $30,000,000 of 10-year, 10% bonds at a market (effective)...

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Accounting

On July 1, 20Y1, Campbell issued $30,000,000 of 10-year, 10% bonds at a market (effective) interest rate of 9%. Interest is payable semiannually on December 31 and June 30. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1. Journalize the first semiannual interest payment on December 31, 20Y1, and the amortization of the bond premium, using the effective interest rate method Journalize the interest payment on June 30, 20Y2, and the amortization of the bond premium, using the effective interest rate method. Determine the total interest expense for 20Y2. What is the balance of the premium right after the 4th interest payment

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