- The Gorman Group Issued 930 000 Of 11 Bonds On June 30 2021 For 1 009 794 The Bonds Were Dated On June 30 And Matu 1 (30.86 KiB) Viewed 33 times
The Gorman Group issued $930,000 of 11% bonds on June 30, 2021, for $1.009.794. The bonds were dated on June 30 and matu
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The Gorman Group issued $930,000 of 11% bonds on June 30, 2021, for $1.009.794. The bonds were dated on June 30 and matu
The Gorman Group issued $930,000 of 11% bonds on June 30, 2021, for $1.009.794. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 10% Interest is paid semiannually on December 31 and June 30. Required: 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30, 2021, interest on December 31, 2021 and interest on June 30, 2022 (at the effective rate). View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the bond on June 30, 2021. Note: Enter debits before credits. Date June 30, 2021 General Journal Debit Credit