Business, 14.09.2021 14:00 viodsenpai
Cupola Fan Corporation issued 12%, $460,000, 10-year bonds for $450,000 on June 30, 2021. Debt issue costs were $2,100. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2022), the corporation exercised its call privilege and retired the bonds for $455,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.
Required:
Prepare the journal entry to record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December 31, 2021
Answers: 2
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Cupola Fan Corporation issued 12%, $460,000, 10-year bonds for $450,000 on June 30, 2021. Debt issue...
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