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  3. page 1 page 3 . on june 30, 2015 (also the date of

Page 1 Page 3 . On June 30, 2015 (also the date of the bonds),...

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Accounting

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Page 1 Page 3 . On June 30, 2015 (also the date of the bonds), Adams Company issued $2,000,000 of 10-year, date 10% bonds, for $2,050,000. The bonds were purchased by Palmer Company on the issue at the issue price. Present entries to record the following transactions: (a) Adams Company (1) (2) (3) Issuance of bonds. Payment of first semiannual interest on December 31, 2015. Amortization by straight-ine method of bond premium on December 31, 2015. (b) Palmer Company (1) (2) Purchase of bonds. Receipt of first semiannual interest amount on December 31, 2015. Amortization by straight-line method of bond premium on December 31, 2015. (3)

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