Prepare the journal entries for the issuance

by | Mar 18, 2020 | Uncategorized

  

Prepare the journal entries for the issuance of the bonds. Assume the bonds are issued for cash on
January 1, 2015.

Enviro Company issues 8%, 10-year bonds with a par value of $270,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 1/2.
  

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