Resonance Company sold bonds that had a face (maturity) value of $3,000,000 on June 1,...
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Resonance Company sold bonds that had a face (maturity) value of $3,000,000 on June 1, 2019 for $2,700,000. The bonds had a 10-year term with a maturity date of June 1, 2029. The annual interest rate on the bonds is 12 percent which is paid semiannually each November 30 and May 31. What entries should Resonance Company make on 3 a. issuance of the bond on June 1, 2019, b. on payment of interest on November 30, 2019 c. for the accrual of interest at the fiscal year end December 31, 2019
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