On March 1,2018,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 1,2018;September 1,2018;December 31,2018;and March 1,2019.

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The Answer of On March 1,2018,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 1,2018;September 1,2018;December 31,2018;and March 1,2019.

On March 1,2018,five-Year Bonds Are Sold for $508,026 That Have