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Entries for Bond Transactions
On January 1, 2012, Divac Company issued $300,000 of 9%, 10year bonds at par. Interest is payable quarterly on April 1, July 1, October 1 and January 1
Prepare a journal entries to record the following A) the issuance of bonds B) The payment of interest on July 1 C The accrual of interest on December 31 My question is on B do I take 300,000 x 9% x 3/12 to get my answer because its asking for quarterly that would be the 3 correct divided by 12 months I'm confused on this please help me |
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