ms bea
Jul 31, 2012, 11:12 AM
Issued $600,000, 9%, 10 year bonds on Jan. 1, 2011, for 562,613. This resulted in an effective-interest rate 10% on the bonds. Interest is payable semiannually on July 1 and. Jan. 1. use the effective-rate method to amortize premium or discount. Prepare the journal entries to record the following.