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Make the entry in the journal of the first interest payment

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Reference no: EM132936988

The company Vinos Andaluces SA, issued bonds on December 31, 2020 with a life period of 4 years, they will mature on December 31, 2024, with an issue interest rate of 12%, a nominal value (face value) of $ 210,000. Interest payments will be made every 6 months, the first being on June 30, 2021 and the last on June 30, 2024.

Required:

Question 1: Make the entry in the Daily Book of the bond issue

Question 2: Make the entry in the Journal of the first interest payment

Reference no: EM132936988

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