Check My Work Bond Premium, Entries for Maui Blends, Inc. produces and sells org

Question

Check My Work Bond Premium, Entries for Maui Blends, Inc. produces and sells organically grown coffee. On July 1, 20 14, Maui Blends, Inc issued S2 900,000 of 9-year, 12% bonds at a market effective) interest rate of 10% on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year Required: For all journal entries with a compound transaction, if an amount box does not require an entry, leave it blank Hide 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 2014

Explanation / Answer

1- Cash- 3,238,999

Premium on bonds payable. 338,999

Bonds payable. 2,900,000

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---