HTT 303 Lecture 12: HTH 601 Week 12 Griffin (lecture hall)
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9 Dec 2015
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Szmanda Company issues 13%, five-year bonds, on December 31, 2015, with a par value of $210,000 and semiannual interest payments.
Semiannual Period-End | Unamortized Discount | Carrying Value | ||||||
(0) | 12/31/2015 | $ | 7,200 | $ | 202,800 | |||
(1) | 6/30/2016 | 6,480 | 204,240 | |||||
(2) | 12/31/2016 | 5,760 | 204,240 | |||||
Use the above bond amortization table and prepare journal entries to record
(a) the issuance of bonds on December 31, 2015;
(b) the first interest payment on June 30, 2016; and
(c) the second interest payment on December 31, 2016.