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How much is the debit-credit to premium-discount

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Reference no: EM132997800

Question - $1,000,000 face value bonds was issued on March 1, 2000, with a coupon rate of 5%, and interest being paid semi-annually every March 1 and September 1 starting on September 1, 2000, until the maturity date on March 1, 2007. The bonds were issued to yield 4%.

-What is the entry on March 1, 2000 for the bond issuance? 

-How much is interest expense for 2001?

-In the entry to accrue interest expense as of December 31, 2001, how much is the debit/credit to premium/discount?

Reference no: EM132997800

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