Roy Company sold the following ten-year bonds payable on January 1, 20A: $100,000 maturity
value, 5% interest payable annually on each December 31. The bonds were dated January 1, 20A and the accounting period ends December 31. The bonds were sold at 98.
(a) Fill in each blank to the right (assume straight-line amortization)
(b) Assuming the account period ends on June 30, give the adjusting entry related to interest expense
for 19A

Question

Roy Company sold the following ten-year bonds payable on January 1, 20A: $100,000 maturity
value, 5% interest payable annually on each December 31. The bonds were dated January 1, 20A and the accounting period ends December 31. The bonds were sold at 98.
(a) Fill in each blank to the right (assume straight-line amortization)
  (b) Assuming the account period ends on June 30, give the adjusting entry related to interest expense
for 19A

Quizplus · Accepted Answer

The Answer of Roy Company sold the following ten-year bonds payable on January 1, 20A: $100,000 maturity
value, 5% interest payable annually on each December 31. The bonds were dated January 1, 20A and the accounting period ends December 31. The bonds were sold at 98.
(a) Fill in each blank to the right (assume straight-line amortization)
  (b) Assuming the account period ends on June 30, give the adjusting entry related to interest expense
for 19A

Roy Company Sold the Following Ten-Year Bonds Payable on January