Jantz Company issued $500,000, 11%, 10-year bonds on December 31, 2010, for $460,000. Interest is payable semiannually on June 30 and December 31. Jantz uses the straight-line method of amortization and has a calendar year end.
Instructions
Prepare the appropriate journal entries on
(a) December 31, 2010.
(b) June 30, 2011.

Question

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The Answer of Jantz Company issued $500,000, 11%, 10-year bonds on December 31, 2010, for $460,000. Interest is payable semiannually on June 30 and December 31. Jantz uses the straight-line method of amortization and has a calendar year end.
Instructions
Prepare the appropriate journal entries on
(a) December 31, 2010.
(b) June 30, 2011.

Jantz Company Issued $500,000, 11%, 10-Year Bonds on December 31