Solution-How record the transaction interest

How record the transaction interest

Reference no: EM132614217

On March 1, 2020, Holister Electric Inc. issued and sold $120,000, 6 year bonds with an interest rate of 7%. The market rate at the time of issue was 8%. Any premium or discount on the bond is amortized using the effective interest rate method. Interest will be paid annually on February 28. Use a 4 decimal factor for the bond calculation.

Question 1: How record this transaction Interest

Reference no: EM132614217

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How record the transaction interest : On March 1, 2020, Holister Electric Inc. issued and sold $120,000, 6 year bonds with an interest rate of 7%. How record the transaction Interest

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How record the transaction interest

Reference no: EM132614217

Reference no: EM132614217

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