Computation of interest payable on bonds and journal entry

Reference no: EM1310829

Computation of interest payable on Bonds and Journal entry to record issuance of the bond.

On June 1 a company issued $200,000 of 12% bonds at their par value plus accrued interest. The interest on these bonds is payable semi-annually on Jan 1 and July 1. Prepare the issuer's journal entry to record the issuance of June 1.

Reference no: EM1310829

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