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Create necessary journal entries to record issue of bonds

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Question - On January 1, 2014, Bernard Ltd. issues 500 5% bonds with a face value of $1 000. The bonds mature on December 31, 2023 and pay interest semi-annually. Create the necessary journal entries to record the issue of the bonds for each of the following scenarios.

bonds sold at 100

bonds sold at 102

bonds sold at 98.2

Record the bond interest expense on June 30, 2014 for each of the above scenarios.

Record the retirement of the Benjamin Ltd. bonds on December 31, 2023.

Reference no: EM132773791

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