bookmarks here on the bookmarks bar. Import bookmarks now. Dobbs Company issues

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bookmarks here on the bookmarks bar. Import bookmarks now. Dobbs Company issues 996, two-year bonds, on December 31, 2017, with a par value of $910O iannual per (0)12/31/2017 (1 6/30/2018 (2) 12/31/2018 (3)6/30/2019 (4) 12/31/2019 $5,820 $85,180 86,635 88,090 89,545 91,000 1,455 Use the above straight-line bond amortization table and prepare journal entries for the Required: (a) The issuance of bonds on December 31. 2017 (b) The first through fourth interest payments on each June 30 and December 31 (c) Record the maturity of the bonds on December 31, 2019 this

Explanation / Answer

Date General Journal Debit Credit 12/31/2017 Cash 85180 Discount on bonds payable 5820 Bonds payable 91000 06/30/2018 Bond interest expense 5550 Discount on bonds payable 1455 Cash 4095 12/31/2018 Bond interest expense 5550 Discount on bonds payable 1455 Cash 4095 06/30/2019 Bond interest expense 5550 Discount on bonds payable 1455 Cash 4095 12/31/2019 Bond interest expense Discount on bonds payable Cash 5820-4365 1455 91000*9%*1/2 4095 4365-2910 1455 91000*9%*1/2 4095 2910-1455 1455 91000*9%*1/2 4095 31/12/2019 Bonds payable 91000 Cash 91000

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