On March 1, 2008, five-year bonds are sold for $254,013 that have a face value of $250,000 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, 2008
September 1, 2008
December 31, 2008
March 1, 2009

asked by Simone

16 years ago

554 views

0

0

Ask a New Question or answer this question.

Question

On March 1, 2008, five-year bonds are sold for $254,013 that have a face value of $250,000 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, 2008
September 1, 2008
December 31, 2008
March 1, 2009