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Discuss using straight-line amortization

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Reference no: EM131793337

Wefald Company issued $607,000, 8-year, 6 percent bonds on January 1, 2014. The bonds sold for $572,000. Interest is payable semiannually each June 30 and December 31.

Record the sale of the bonds on January 1, 2014, and the payment of interest on June 30, 2014, using straight-line amortization. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Reference no: EM131793337

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