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Bond using the straight line method

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Reference no: EM131317906

On January 1, Byte received $182,646.30 when they issued a $170,000, 7%, 10 year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%.

1). Please record the journal entry for the timely interest payment of the bond using the straight line method that was made on June 30th.

2). Please record the journal entry for the timely interest payment of the bond using the straight line method that was made on December 31st.

Reference no: EM131317906

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