Business, 18.03.2021 01:00, kokilavani

Constantine Co issues $325,000 of 10%, four-year bonds dated January 1, 2015, that pay interest semiannually on
June 30 and December 31. The market rate is 8% at the
issue date. Bonds are sold a 115.85%
Required
1. Prepare the January 1, 2015, journal entry to recor
the bonds' issuance.
2. Determine the total bond interest expense to be
recognized over the bonds' life.
3. Prepare a straight-line amortization table for the
bonds' first two years.
4. Prepare the journal entries to record the first two
interest payments.

Answers: 1

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Constantine Co issues $325,000 of 10%, four-year bonds dated January 1, 2015, that pay interest sem...