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Prepare entries to record issuance of bonds

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Question - Prepare entries to record issuance of bonds, interest accrual, and straight-line amortization for 2 years Fernetti Company sold $6,000,000, 9%, 20-year bonds on January 1, 2015.  The bonds were dated  January 1, 2015, and pay interest on January 1 and July 1. Fernetti Company uses the straight-line method to amortize bond premium or discount. The bonds were sold at 96.Assume no interest is accrued on June 30.

Reference no: EM131728308

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