On October 1, 20X1, Britt Company issued a $5,000, 6%, bond payable. The interest is payable annually each October 1 and the bond matures in ﬁve years. The annual accounting period for the company ends December 31. Complete the following entries at the date speciﬁed under three different assumptions as to the issue price. Use straight-line amortization.

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The Answer of On October 1, 20X1, Britt Company issued a $5,000, 6%, bond payable. The interest is payable annually each October 1 and the bond matures in ﬁve years. The annual accounting period for the company ends December 31. Complete the following entries at the date speciﬁed under three different assumptions as to the issue price. Use straight-line amortization.

On October 1, 20X1, Britt Company Issued a $5,000, 6