Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 57

Sylvestor Company issues 10%, five-year bonds, on December 31, 2014, with a par value of $100,000 and semiannual interest payments. Use the following bond amortization table and prepare journal entries to record ( a ) the issuance of bonds on December 31, 2014; ( b ) the first interest payment on June 30, 2015; and ( c ) the second interest payment on December 31, 2015.