On January 1 2017 Sunset Corporation issued $4000000 8% 5-year bonds dated January 1 2017 at 95. The bonds pay annual interest on January 1. The company uses the straight-line method of amortization and has a calendar year end.
Instructions
Prepare all the journal entries that Sunset Corporation would make related to this bond issue through January 1 2018. Be sure to indicate the date on which the entries would be made.

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On January 1 2017 Sunset Corporation issued $4000000 8% 5-year bonds dated January 1 2017 at 95. The bonds pay annual interest on January 1. The company uses the straight-line method of amortization and has a calendar year end.
Instructions
Prepare all the journal entries that Sunset Corporation would make related to this bond issue through January 1 2018. Be sure to indicate the date on which the entries would be made.

On January 1 2017 Sunset Corporation Issued $4000000 8% 5-Year