2024 – Paulson Company issues 6 four year bonds on December 31 2013 with a par
Paulson Company issues 6%, four-year bonds, on December 31, 2013, with a par value of $90,000 and semiannual interest payments.
Semiannual… – 2024
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Paulson Company issues 6%, four-year bonds, on December 31, 2013, with a par value of $90,000 and semiannual interest payments. |
| Semiannual Period-End | Unamortized Discount | Carrying Value | ||||||
| (0) | 12/31/2013 | $ | 6,533 | $ | 83,467 | |||
| (1) | 6/30/2014 | 5,716 | 84,284 | |||||
| (2) | 12/31/2014 | 4,899 | 85,101 | |||||
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| Use the above straight-line bond amortization table and prepare journal entries for the following. |
| (a) |
The issuance of bonds on December 31, 2013. |
| (b) | The first interest payment on June 30, 2014. |
| (c) | The second interest payment on December 31, 2014 |
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