Xonic Corporation issued $8.7 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonicâs fiscal year ends on December 31.
a. Record the issuance of bonds.
b. Record the bond interest and amortize bond premium.
c. Record the final interest payment and amortize bond premium.
d. Record the retirement of the bonds.
Xonic Corporation issued $8.7 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonicâs fiscal year ends on December 31.
a. Record the issuance of bonds.
b. Record the bond interest and amortize bond premium.
c. Record the final interest payment and amortize bond premium.
d. Record the retirement of the bonds.
Related questions
Xonic Corporation issued $7,300,000 of 20-year, 8 percent bondson April 1, 2015, at 102. Interest is due on March 31 and September30 of each year, and all of the bonds in the issue mature on March31, 2035. Swanson's fiscal year ends on December 31. |
| a-c. | Record the issuance of the bonds and entries to be passed postthe issue. (If no entry is required for atransaction/event, select "No journal entry required" in the firstaccount field.) |
