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    payiahang's Avatar
    payiahang Posts: 3, Reputation: 1
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    #1

    Nov 21, 2010, 05:13 PM
    Bonds homework help!
    On January 1, 2010, Tara Corporation issued $400,000, 7%, 10 year bonds at 104. Interest is payable semiannually on July 1 and January 1. Tara uses the straight line method of amortization for bond premium or discount. Tara Corporation has a calender year-end and prepares annual adjusting entries.

    Required:

    a) Prepare the general journal entry to record the issuance of the bonds.
    b) Prepare the general journal entry to record the July 1 interest payment.
    c) Prepare the general journal entry to record the December 31 interest accrual.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Nov 21, 2010, 05:14 PM

    So what is your question, or do you just want someone to do your homework for you.
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