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The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year:...

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Accounting

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The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 issued $71,100,000 of 20-year, 12% callable bonds dated July 1, Year 1, at a market (effective) rate of 14%, receiving cash of S6 1,621,133. Interest is payable semiannually on December 31 and June 30. Paid the semiannual interest on the bonds. The bond discount amortization of $236,972 is combined with the semiannual interest payment July 1 Dec. 31 31 Closed the interest expense account Year 2 Paid the semiannual interest on the bonds. The bond discount amortization of $236,972 is combined with the semiannual interest payment Paid the semiannual interest on the bonds. The bond discount amortization of $236.972 is combined June 30 Dec. 31

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