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Record the journal entry for david co at issuance

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On 1/1/X1 David Co. issued $2000,000 of 4 year 12%bonds and received $2,100,000. Interest is paid semiannually on 6/30 & 12/31 and principle is due at maturity.

Question A) Record the journal entry for David Co. at issuance.

Question B) Record the journal entries 6/30 & 12/31 of the first year.

Question C) What is the total amount of interest expense incurred over the life of the bond?

Question D) Complete the following table.

Period Date Unamortized Premium Carrying Value

0 1/1/X1

1 6/30/X1

2 12/31/X1

3 6/30/X2

4 12/31/X2

5 6/30/X3

6 12/31/X3

7 6/30/X4

8 12/31/X4

 

Reference no: EM132506620

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