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How record the issuance of the bonds on january

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Reference no: EM132588341

On January 31, 2018, Logo Logistics Inc issued ten-year 12% bonds payable with a face value of $7,000,000. The bonds were issued at 92 and pay interest on January 31 and July 31. Logo Logistics amortizes bond discounts using the straight line method.

Question a. Record the issuance of the bonds on January 31, 2018

Question b. Record the semiannual interest payment and amortization of the bond discount on July 31, 2019

Question c. Record the interest accrual and discount amortization on December 31, 2018

Reference no: EM132588341

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