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Journalize payment of semi annual interest and amortization

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Wilkes Mutual insurance company issued 100,000, 5% 10 year bond payable at 111 0n jan 1, 2018. Interest is paid semiannually on jan 1 and july 1 .

Problem 1: Journalize the issuance of the bond payable on Jan 1, 2018.

Problem 2: Journalize the payment of semi annual interest and amortization of bond discount or premium on july 1, 2018.

Reference no: EM132905697

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