On July 1, 2010, Aloha Corporation issued bonds with a face value of $400,000. The bonds carry a face interest rate of 8 percent that is payable each July 1 and January 1.
a. Prepare the entry in journal form without explanation for the issuance of the bonds assuming the bonds are issued at 98.
b. Prepare the entry in journal form without explanation for the issuance of the bonds assuming the bonds are issued at 101.

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The Answer of On July 1, 2010, Aloha Corporation issued bonds with a face value of $400,000. The bonds carry a face interest rate of 8 percent that is payable each July 1 and January 1.
a. Prepare the entry in journal form without explanation for the issuance of the bonds assuming the bonds are issued at 98.
b. Prepare the entry in journal form without explanation for the issuance of the bonds assuming the bonds are issued at 101.

On July 1, 2010, Aloha Corporation Issued Bonds with a Face