Solution-The issuance of bonds on december 31

The issuance of bonds on december 31

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Reference no: EM131108992

Dobbs Company issues 5%, two-year bonds, on December 31, 2015, with a par value of $95,000 and semiannual interest payments.

Semiannual Period-End	Unamortized Discount	Carrying Value
(0) 12/31/2015	$5,900	$89,100
(1) 6/30/2016	4,425	90,575
(2) 12/31/2016	2,950	92,050
(3) 6/30/2017	1,475	93,525
(4) 12/31/2017	0	95,000

Use the above straight-line bond amortization table and prepare journal entries for the following.

Required:

(a) The issuance of bonds on December 31, 2015.

(b) The first through fourth interest payments on each June 30 and December 31.

Reference no: EM131108992

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The issuance of bonds on december 31

Reference no: EM131108992

Reference no: EM131108992

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