Hillside issues $2,200,000 of 7%, 15-year bonds dated January 1,2015, that pay interest semiannually on June 30 and December 31.The bonds are issued at a price of $1,901,046.
Prepare the January 1, 2015, journal entry to record the bondsâissuance
For each semiannual period, complete the table below tocalculate the cash payment.
For each semiannual period, complete the table below tocalculate the straight-line discount amortization.
For each semiannual period, complete the table below tocalculate the bond interest expense.
Complete the below table to calculate the total bond interestexpense to be recognized over the bonds' life.
Prepare the first two years of an amortization table using thestraight-line method.
Record the first interest payment on June 30, 2015.
Hillside issues $2,200,000 of 7%, 15-year bonds dated January 1,2015, that pay interest semiannually on June 30 and December 31.The bonds are issued at a price of $1,901,046.
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