On March 1,2015,five-year bonds are sold for $508,026 that have a face value of $500,000 and an interest rate of 10%.Interest is paid semi-annually on March 1 and September 1.Using the straight-line amortization method,prepare the borrower's journal entries on:
March 1,2015; September 1,2015; December 31,2015; and March 1,2016.

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The Answer of On March 1,2015,five-year bonds are sold for $508,026 that have a face value of $500,000 and an interest rate of 10%.Interest is paid semi-annually on March 1 and September 1.Using the straight-line amortization method,prepare the borrower's journal entries on:
March 1,2015; September 1,2015; December 31,2015; and March 1,2016.

On March 1,2015,five-Year Bonds Are Sold for $508,026 That Have