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

    Sep 17, 2017, 10:34 PM
    Issuance of bonds
    On March 1, 2006, Brown-Ferring Corporation issued $100 million of 12% bonds, dated January 1, 2006, for $99 million (plus accrued interest). The bonds mature on December 31, 2025, and pay interest semiannually on June 30 and December 31. Brown-Ferring’s fiscal period is the calendar year.



    Required:
    Determine the amount of accrued interest that was included in the proceeds received from the bond sale.
    Prepare the journal entry for the issuance of the bonds by Brown-Ferring.
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Sep 18, 2017, 12:51 PM
    Did you read about posting HOMEWORK?
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #3

    Sep 18, 2017, 12:55 PM
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
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    #4

    Sep 19, 2017, 05:12 AM
    The answer is Hippopotamus since it's the third Tuesday of the month, otherwise the answer would always be 42.






    and of course....please review and abide by the site rules for homework.
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