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AE10-20 Please help! Joseph Company issued $765300 12% 10-year bonds o
please help. In recent years Juresic Transportation purchased three used bu
September 15, 2020Assume it is Monday May 1 2011 the first business day of the month and you hav
September 15, 2020AE10-20
Please help!
Joseph Company issued $765300 12% 10-year bonds on December 31 2010 for $698336. Interest is payable semiannually on June 30 and
December 31. Joseph Company uses the straight-line method to amortize bond premium or discount.
Prepare the journal entries to record the following.
The issuance of the bonds. Date: Dec. 31 2010
The payment of interest and the discount amortization on June 30 2011. Date: June.31 2011
The payment of interest and the discount amortization on December 31 2011. Date Dec. 31 2011
The redemption of the bonds at maturity assuming interest for the last interest period has been paid and recorded. Date: Dec.31 2020.
