Prepare a journal entry to record, Financial Accounting

Assignment Help:

On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the Straight line method to amoritze the discount. Prepare a Journal Entry to record the June 30th interest payment. You may exclude the explanation


Related Discussions:- Prepare a journal entry to record

Make journal entries required to dispose off, make journal entries require...

make journal entries required to dispose off over or under applied manufacturing overhead assuming it is allocated among work in process, finished goods and cost of goods sold ba

Income account-trusts laws and accounts, INCOME ACCOUNT (a) Classific...

INCOME ACCOUNT (a) Classification : Income will be classified under appropriate headings: Rents; Interest on Government securities; Dividends; Interest on

Ifrs and benefits in organization, Develop a paper that explains the emergi...

Develop a paper that explains the emerging role of international financial reporting standards and how it affects your particular organization. Your paper should assess the adequac

Financial and managerial accounting, You have been hired as consultants to ...

You have been hired as consultants to advise Mr D of DN Company limited on the performance of his company which has been  in business for two years. He has provided you with a subs

Adjusting entries, Adjusting Entries Clapton Guitar Company entered into th...

Adjusting Entries Clapton Guitar Company entered into the following transactions during 2013. [The transactions were properly recorded in permanent (balance sheet) accounts unless

Prepare a bank reconciliation for the month of october, The John Company ma...

The John Company maintains a checking account at the Bank of the Cumberland. The bank provides a bank statement along with canceled checks on the last day of each month. The Octobe

Investors advantage from financial intermediation, Q. Investors advantage f...

Q. Investors advantage from financial intermediation? Investors advantage substantially from financial intermediation because: (a) By investing in a market or bank investors

Prepare a trial balance and income statement, Cleaning Co. began business o...

Cleaning Co. began business on March 1, 2011. The company provides specialized cleaning services to corporate clients. Listed below are the transactions entered into by Cleaning Co

The petition-bankruptcy, THE PETITION Petition by debtor : If the de...

THE PETITION Petition by debtor : If the debtor presents his own petition, a receiving order is made at once without a court hearing and an adjudication order may also be ma

Recording, explain the terms recording,classifying,summarizing and communic...

explain the terms recording,classifying,summarizing and communicating

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd