BE 249
On January 1, 2018, Morris Enterprises issued 9%, 5-year bonds with a face amount of $900,000 at par. Interest is payable annually on January 1.
Instructions
Prepare the entries to record the issuance of the bonds and the first annual interest accrual on December 31.

Question

Quizplus · Accepted Answer

The Answer of BE 249
On January 1, 2018, Morris Enterprises issued 9%, 5-year bonds with a face amount of $900,000 at par. Interest is payable annually on January 1.
Instructions
Prepare the entries to record the issuance of the bonds and the first annual interest accrual on December 31.

BE 249 On January 1, 2018, Morris Enterprises Issued 9%, 5-Year Bonds