Block company issued a 20000 10 year bond on 712008 when

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Block Company issued a 20,000 10 year bond on 7/1/2008 when the market rate was 6.5%. Assume that the accounting year of Block Company ends on December. Journalize the following transactions.

a)    Issuance of the bond on 7/1/2008

b)   Accrual of the interest expense on 12/31/2008

c)    payment of interest on 1/1/2009

d)   payment of the bond at maturity

Reference no: EM13355594

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