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Prepare the journal entry to record the issuance of the bond

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Reference no: EM132329723

Question

On December 31, 2015, when the market rate was 8%, Olde West Corp issued $2,000,000, 10%, 5-year bonds. Interest is payable semiannually on June 30 and December 31. Prepare the journal entry to record the issuance of the bonds.

The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.

Reference no: EM132329723

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