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What is the carrying amount on the december

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A. January 1, 2016, Brandon Company issued $100,000 of 5 year 9% bonds when the market rate of interest was 10%. Brandon received $96,149 for the bond issue. The bonds pay interest on July 1 and January 1.

B. January 1,2016 ABC Company issues $100,000 of 5 year 9% bonds to yield $104,100 when the market rate of interest is 8%. The bonds pay interest on July 1 and January 1.

Requirements: Prepare all general journal entries for the 2 bonds issued and any interest accruals and payments for the fiscal year 2016. What is the carrying amount on the December 31, 2016 Balance Sheet for 4A. and 4B?

Reference no: EM131799551

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