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Dee brewery issued 35000000 of bonds on 7100 the bonds have

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Dee Brewery issued 35,000,000 of bonds on 7/1/00. The bonds have a term of 10 years with an 8% interest rate. Interest is payable annually. The market rate of interest on similar length of federal bonds is 10%.

In order to complete their expansion project, the Brewery issued another 2,000,000 of bonds on 4/1/2000. These bonds have a term of 8 years with an interest rate of 9%. Interest on these bonds is paybable semi annually and the market rate is 8%.

Prepare journal entries related to bonds and bond interest.

Reference no: EM13568840

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