Vance Company issued $1,000,000, 10%, 20-year bonds on January 1, 2014, at 104. Interest is payable semiannually on July 1 and January 1. Vance uses the straight-line method of amortization and has a calendar year end.
Instructions
Prepare all journal entries made in 2014 related to the bond issue.

Question

Quizplus · Accepted Answer

The Answer of Vance Company issued $1,000,000, 10%, 20-year bonds on January 1, 2014, at 104. Interest is payable semiannually on July 1 and January 1. Vance uses the straight-line method of amortization and has a calendar year end. Instructions Prepare all journal entries made in 2014 related to the bond issue.

Vance Company Issued $1,000,000, 10%, 20-Year Bonds on January