On January 2,2014,Mahoney Sales issued $10,000 in bonds for $9,400.They were 5-year bonds with a stated rate of 4%,and pay semiannual interest payments.Mahoney Sales uses straight-line method to amortize bond discount.Please provide the journal entry for the first interest payment on June 30,2014.
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Question

On January 2,2014,Mahoney Sales issued $10,000 in bonds for $9,400.They were 5-year bonds with a stated rate of 4%,and pay semiannual interest payments.Mahoney Sales uses straight-line method to amortize bond discount.Please provide the journal entry for the first interest payment on June 30,2014.
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\hline & & \\hline & & \
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\end{array}$$

Quizplus · Accepted Answer

The Answer of On January 2,2014,Mahoney Sales issued $10,000 in bonds for $9,400.They were 5-year bonds with a stated rate of 4%,and pay semiannual interest payments.Mahoney Sales uses straight-line method to amortize bond discount.Please provide the journal entry for the first interest payment on June 30,2014.
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