william407
Nov 1, 2009, 06:58 PM
I am having trouble with the following question and entering it into an accounting journal.
But here is what I have so far...
Dr 200,000 Cash
Cr 200,000 Bonds
Crockett Corporation issued $200,000 of its 10 percent bonds payable on April 1, 2007. The bonds were issued at face value. Interest is payable semi-annually, on October 1 and April 1. Give the journal entries to issue the bonds and pay each of the first two interest payments to bondholders.
But here is what I have so far...
Dr 200,000 Cash
Cr 200,000 Bonds
Crockett Corporation issued $200,000 of its 10 percent bonds payable on April 1, 2007. The bonds were issued at face value. Interest is payable semi-annually, on October 1 and April 1. Give the journal entries to issue the bonds and pay each of the first two interest payments to bondholders.