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What is the issuance of bonds on december

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Reference no: EM131796874

Problem

Dobbs Company issues 8%, two-year bonds, on December 31, 2015, with a par value of $97,000 and semiannual interest payments.

Semiannual Period-End

Unamortized Discount

Carrying Value

(0)

12/31/2015

5,940

91,060

(1)

6/30/2016

4,455

92,545

(2)

12/31/2016

2,970

94,030

(3)

6/30/2017

1,485

95,515

(4)

12/31/2017

0

97,000

 

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.

Reference no: EM131796874

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