Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par...
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Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $96,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) January 1, issuance $ 6,653 $ 89,347 (1) June 30, first payment 5,821 90,179 (2) December 31, second payment 4,989 91,011 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) Th
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