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Find what should adjusting entry be for year end on january

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Reference no: EM132551519

Question 1: If a company has a year end of January 31 and they issued a bond on September 30, 2019 for 5-year, 4%, $500,000 bond when the market rate was 5% and it pays interest semi-annually on March 31 and September 31. The company uses the effective interest rate method for amortization bond discounts and premiums. What should the adjusting entries be for the year end on January 31, 2020?

Reference no: EM132551519

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