Business, 25.11.2020 14:20 chloerodgers56
On January 1, Boston Enterprises issues bonds that have a $1,850,000 par value, mature in 20 years, and pay 7% interest semiannually on June 30 and December 31. The bonds are sold at par. 1.
Required:
1. How much interest will Boston pay (in cash) to the bondholders every six months?
2. Prepare journal entries to record (a) the issuance of bonds on January 1; (b) the first interest payment on June 30; and (c) the second interest payment on December 31.
3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 95 and (b) 105.
Answers: 3
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On January 1, Boston Enterprises issues bonds that have a $1,850,000 par value, mature in 20 years,...
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