On January 1,2019,Fleming Corporation issued 9%,10-year bonds with a face value of $900,000 at 93.78.Interest is payable semiannually on January 1 and July 1.The effective-interest rate when the bonds were issued was 10%.Any discount or premium is amortized using the effective-interest method.
Required:
Prepare journal entries on:
1.January 1,2019
2.July 1,2019
Omit explanations.

Question

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The Answer of On January 1,2019,Fleming Corporation issued 9%,10-year bonds with a face value of $900,000 at 93.78.Interest is payable semiannually on January 1 and July 1.The effective-interest rate when the bonds were issued was 10%.Any discount or premium is amortized using the effective-interest method.
Required:
Prepare journal entries on:
1.January 1,2019
2.July 1,2019
Omit explanations.

On January 1,2019,Fleming Corporation Issued 9%,10-Year Bonds with a Face