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Make journal entries for the issuance of bonds on January

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Reference no: EM132789033

Question - Paulson Company issues 10%, four-year bonds, on January 1 of this year, with a par value of $93,000 and semiannual interest payments.

Semiannual Period-End Unamortized Discount Carrying Value'

(0) January 1, issuance $6,593 $86,407

(1) June 30, first payment 5,769 87,231

(2) December 31, second payment 4,945 88,055

Use the above straight-line bond amortization table and make journal entries for the following.

(a) The issuance of bonds on January 1.

(b) The first interest payment on June 30.

(c) The second interest payment on December 31.

Reference no: EM132789033

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