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On august 1 2007 a company issues bonds with a par value of

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On August 1, 2007, a company issues bonds with a par value of $600000. The bonds mature in 10 years, and pay 6% annual interest, payable each February 1st and August 1st. The bonds sold at $632000. The company uses the straight line method of amortizing bond premiums. The company's year-end is December 31st. Prepare the general journal entry to record the interest accrued at December 31, 2007.

Reference no: EM13609474

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