On January 1, 2012, Fisher Corporation issued 9%, 10-year bonds with a face value of $900,000 at 96. Interest is payable semiannually on January 1 and July 1. The effective-interest rate when the bonds were issued was 10%. Prepare the journal entries to record the issuance of the bonds and the first semiannual interest payment. Fisher Corporation uses the effective-interest method of amortization.

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The Answer of On January 1, 2012, Fisher Corporation issued 9%, 10-year bonds with a face value of $900,000 at 96. Interest is payable semiannually on January 1 and July 1. The effective-interest rate when the bonds were issued was 10%. Prepare the journal entries to record the issuance of the bonds and the first semiannual interest payment. Fisher Corporation uses the effective-interest method of amortization.

On January 1, 2012, Fisher Corporation Issued 9%, 10-Year Bonds