Ask Experts Questions for FREE Help !
Ask
    QAZXSWEDCVFR's Avatar
    QAZXSWEDCVFR Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 26, 2013, 03:11 PM
    On January 1, a company issued 10%, 10-year bonds payable with a par value of $720,00
    On January 1, a company issued 10%, 10-year bonds payable with a par value of $720,000. The bonds pay interest on July 1 and January 1. The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. Prepare the journal entry to record the first semiannual interest payment, assuming it uses the straight-line method of amortization.
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Jan 26, 2013, 03:12 PM
    What do YOU think ?
    While we're happy to HELP we won't do all the work for you.
    Show us what you have done and where you are having problems..
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Issued $400,000 of 10 year, 6% bonds at 105, with interest payable semiannually [ 1 Answers ]

Journalize

A company issued 5-year, 7% bonds with a par value of $100,000. The company received [ 4 Answers ]

A company issued 5-year, 7% bonds with a par value of $100,000. The company received $97,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:

Sears issues bonds with a par value of $175,000 on January 1, 2009. The bonds' annual [ 1 Answers ]

Sears issues bonds with a par value of $175,000 on January 1, 2009. The bonds' annual contract rate is 4%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 6%, and the bonds are sold for $165,523. ...

A company issued 5-year, 7% bonds with a par value of $100,000. The company received [ 1 Answers ]

A company issued 5-year, 7% bonds with a par value of $100,000. The company received $97,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:

View more questions Search