On january 1 2012 abc company issued 500000 of 10 20-year

Reference no: EM13595097

Prepare journal entries to record the following independent events. Be sure to include the accrual of interest and the payment of interest entries.

a) On January 1, 2012, ABC Company issued $500,000 of 10%, 20-year bonds at par. The interest is payable semiannually on June 30 and December 31.

b) On April 30, 2012, XYZ Company issued $100,000 of 12%, 20-year bonds at par plus accrued interest. Interest is payable semiannually on June 30 and December, 31.

Reference no: EM13595097

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