2) Huckleberry issues $1,700,000 of 6%, 20-year bonds dated January 1, 2020, that pay interest semiannually on June 30 a
Posted: Fri Jul 01, 2022 8:40 am
2) Huckleberry issues $1,700,000 of 6%, 20-year bonds datedJanuary 1, 2020, that pay interest semiannually on June 30 andDecember 31. The bonds are issued at a price of $2,100,000.
a. Prepare the January 1 journal entry to record the bondsissuance.
b. Complete the first two years of a straight-line amortizationtable.
c. Prepare the journal entry to record the first interiminterest payment on June 30.
d. Write the journal entry for the maturity of the bonds onDecember 31, 2040 (assume semiannual interest is alreadyrecorded).
a. Prepare the January 1 journal entry to record the bondsissuance.
b. Complete the first two years of a straight-line amortizationtable.
c. Prepare the journal entry to record the first interiminterest payment on June 30.
d. Write the journal entry for the maturity of the bonds onDecember 31, 2040 (assume semiannual interest is alreadyrecorded).