On April 1,2017,Burton Corporation issued $3,000,000 of 8%,10-year bonds dated April 1,2017,with interest payments made each October 1 and April 1.The bonds are issued at 98.Burton Corporation amortizes any premium or discount using the straight-line method.
a_Prepare the journal entry on April 1,2017,to issue the bonds.
b_Prepare the journal entry on October 1,2017,to record the payment of interest and the amortization of any discount or premium.
c_Prepare the journal entry on December 31,2017,to record accrued interest and the amortization of any premium or discount.
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