Prepare the journal entries to record the issuance of bonds

Reference no: EM131997171

Question: On May 1, 2017, Bulverde Inc. issues $300,000 of 6% bonds that were dated on January 1 at par, plus accrued interest. These bonds pay interest on July 1 and January 1. Prepare the journal entries to record the issuance of the bonds (adjust interest expense for the accrued interest at purchase) and the first semiannual interest payment on July 1.

Reference no: EM131997171

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