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    DevendraPandya1's Avatar
    DevendraPandya1 Posts: 1, Reputation: 1
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    #1

    Feb 24, 2009, 05:30 PM
    Accounting
    --------------------------------------------------------------------------------

    Prepare journal entries to record the following transactions related to long-term bonds of Starr Co.
    (a) On April 1, 2006, Starr issued $500,000, 9% bonds for $537,868 including accrued interest. Interest is payable annually on January 1, and the bonds mature on January 1, 2016.
    (b) On July 1, 2008 Starr retired $150,000 of the bonds at 102 plus accrued interest. Starr uses straight-line amortization.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Mar 3, 2009, 04:31 PM

    Try using your textbook to work this out yourself, then if you have a specific question we will try to help you.
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