Table 15-6
Kuhnapfel Industries needs to raise capital for expansion purposes. Management is considering issuing $500,000 of 6%, 20-year bonds dated June 1, 2017 with interest payment dates of December 1 and June 1. Kuhnapfel's year end is December 31.
-Refer to Table 15-6.Assuming the bonds were issued on June 1,2017,at 103.75,and the company uses the straight-line method of amortization,the adjusting entry on December 31,2017,to accrue interest and record applicable amortization would include a debit to premium on bond payable of what amount?

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The Answer of Table 15-6
Kuhnapfel Industries needs to raise capital for expansion purposes. Management is considering issuing $500,000 of 6%, 20-year bonds dated June 1, 2017 with interest payment dates of December 1 and June 1. Kuhnapfel's year end is December 31.
-Refer to Table 15-6.Assuming the bonds were issued on June 1,2017,at 103.75,and the company uses the straight-line method of amortization,the adjusting entry on December 31,2017,to accrue interest and record applicable amortization would include a debit to premium on bond payable of what amount?

Table 15-6 Kuhnapfel Industries Needs to Raise Capital for Expansion Purposes. Management