Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 29

On March 31, 2015, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year bonds payable.he bonds pay interest on March 31 and September 30.he entire issue was dated March 31, 2015, but the bonds were not issued until April 30, 2015.hey were issued at face value.
a.repare the journal entry at April 30, 2015, to record the sale of the bonds.
b.repare the journal entry at September 30, 2015, to record the semiannual bond interest payment.
c.repare the adjusting entry at December 31, 2015, to record bond interest expense accrued since September 30, 2015.Assume that no monthly adjusting entries to accrue interest expense had been made prior to December 31, 2015.)
d.xplain why the issuing corporation charged its bond investors for interest accrued in April 2015, prior to the issuance date (see part b above).