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How do prepare the necessary journal entries on december

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On February 1, 2016, Fox Corporation issued 7% bonds dated February 1, 2016 with a face amount of $180,000. The bonds sold for $162,200 and mature in 20 years. Interest is paid semiannually on July 31 and January 31. Fox's fiscal year is the calendar year. Fox uses the straight-line method of amortization for discount or premium. Round answers to the nearest whole number.

Problem a. Prepare the journal entry to record the bond issuance on February 1, 2016.

Problem b. Prepare the necessary journal entries on July 31,2016.

Problem c. Prepare the necessary journal entries on December 31, 2016.

Problem d. Prepare the necessary journal entry on January 31, 2017.

Reference no: EM132684953

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