Straight-line discount amortization, Financial Accounting

Heathrow issues $2,000,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,728,224.

Require

                             a. Prepare the January 1, 2011, journal entry to record the bonds' issuance

                             b. For every semiannual period, compute the cash payment.

                             c.For every semiannual period, compute the the straight-line discount amortization.

                             d.For every semiannual period, compute the bond interest expense.

 

Posted Date: 3/25/2013 1:35:59 AM | Location : United States







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