On April 1, 20X2, Larel Corporation issued $40,000, 9%, ten-year bonds payable at 108 that were dated April 1, 20X2. Interest is payable each March 31 and September 30.
(a) Give the entry to record the issuance of the bonds on April 1, 20X2
(b) Give the entry to record the ?rst interest payment on September 30 , 20X2. Use straight-line amortization
(c) Give the adjusting entry required on December 31, 20X2, the end of the annual accounting period. Use straight-line amortization

Question

On April 1, 20X2, Larel Corporation issued $40,000, 9%, ten-year bonds payable at 108 that were dated April 1, 20X2. Interest is payable each March 31 and September 30. 
(a) Give the entry to record the issuance of the bonds on April 1, 20X2 
(b) Give the entry to record the ?rst interest payment on September 30 , 20X2. Use straight-line amortization
 (c) Give the adjusting entry required on December 31, 20X2, the end of the annual accounting period. Use straight-line amortization

Quizplus · Accepted Answer

The Answer of On April 1, 20X2, Larel Corporation issued $40,000, 9%, ten-year bonds payable at 108 that were dated April 1, 20X2. Interest is payable each March 31 and September 30. 
(a) Give the entry to record the issuance of the bonds on April 1, 20X2 
(b) Give the entry to record the ?rst interest payment on September 30 , 20X2. Use straight-line amortization
 (c) Give the adjusting entry required on December 31, 20X2, the end of the annual accounting period. Use straight-line amortization

On April 1, 20X2, Larel Corporation Issued $40,000, 9%, Ten-Year