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Prepare the journal entry on December

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Reference no: EM132697596

Question - Use the following information for questions:

On January 1, 2019, DAS Company authorized a $1,000,000, 10-year, 6% coupon bond, with annual interest to be paid each December 31. The market rate of interest at the time the bonds were issued was 9%.

Required -

1. Show the journal entry to record the sale of the bonds.

2. Prepare the journal entry on December 31, 2019, to record amortization for the year, assuming the straight-line method.

Reference no: EM132697596

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