On February 1, 2021, Mary Miles Corporation issued $ 100,000, 5%, 5-year bonds. Interest is payable semi-annually on August 1 and February 1.
Instructions
a) Prepare the journal entries that Mary Miles would make on February 1 if it issued the bonds at (1) 100, (2) 98, and (3) 102.
a)?
b) How much interest would Mary Miles Corporation pay on August 1, 2021 under each of the three issue prices listed in

Question

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The Answer of On February 1, 2021, Mary Miles Corporation issued $ 100,000, 5%, 5-year bonds. Interest is payable semi-annually on August 1 and February 1.
Instructions
a) Prepare the journal entries that Mary Miles would make on February 1 if it issued the bonds at (1) 100, (2) 98, and (3) 102.
a)?
b) How much interest would Mary Miles Corporation pay on August 1, 2021 under each of the three issue prices listed in

On February 1, 2021, Mary Miles Corporation Issued $ 100,000