Solution-Prepare journal entries to record the first

Prepare journal entries to record the first interest payment

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Question - Anna Company issues 10%, 5-year bonds, on December 31, 2008, with a par value of $110,000 and semiannual interest payments.

Semiannual Period-End		Unamortized Premium	Carrying value
(0)	12/31/2008	$ 7,737	$ 117,737
(1)	6/30/2009	6,953	116,953
(2)	12/31/2009	6,169	116,169

Required:

(a) Use the above straight-line bond amortization table and prepare journal entries to record the issuance of bonds on December 31, 2008.

(b) Use the above straight-line bond amortization table and prepare journal entries to record the first interest payment on June 30, 2009.

(c) Use the above straight-line bond amortization table and prepare journal entries to record the second interest payment on December 31, 2009.

Reference no: EM131816243

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Prepare journal entries to record the first interest payment

Reference no: EM131816243

Reference no: EM131816243

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