Manchester Community College Accounting Discussion
Description
Chapter 13 discussion question (first week of module 6)
Read the textbook, lecture notes and all other posts BEFORE you post. Create YOUR OWN example of how to record bond journal entries by addressing the following points (make sure your example differs from other students):
1. What is the face value of the bond?
2. What is the sell price of the bond (make it differ from the face value)?
3. What is the contract interest rate of the bond?
4. How many years until the bond matures?
5. Using the straight line method, prepare the journal entry needed to record the first period INTEREST PAYMENT AND AMORTIZATION OF DISCOUNT OR PREMIUM.
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