Darla's Cookie Emporium borrowed money by issuing $200,000 of bonds at 96 on January 1,2019.The bonds pay interest on January 1 and July 1.The stated rate of interest is 5% and the bonds mature in 10 years.Any discount or premium is amortized using the straight-line method.
Required:
Prepare journal entries on the following dates:
1.January 1,2019.
2.July 1,2019.
3.December 31,2019,the fiscal year end.
4.January 1,2020.
5.January 1,2029.
Omit explanations.
Correct Answer:
Verified
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