On June 30,Jamison Company issued $2,500,000 of 10-year,8% bonds,dated June 30,for $2,580,000.Present entries to record the following transactions.
1- Issuance of bonds.
2- Payment of first semiannual interest on December 31 record separate entry from premium amortization.
3- Amortization by straight-line method of bond premium on December 31.

Question

Quizplus · Accepted Answer

The Answer of On June 30,Jamison Company issued $2,500,000 of 10-year,8% bonds,dated June 30,for $2,580,000.Present entries to record the following transactions.
1- Issuance of bonds.
2- Payment of first semiannual interest on December 31 record separate entry from premium amortization.
3- Amortization by straight-line method of bond premium on December 31.

On June 30,Jamison Company Issued $2,500,000 of 10-Year,8% Bonds,dated June