Answer:
Interest Expense 176,040
Discount on Bonds Payable* 11,040
Cash 165,000
* $110,401 ÷ 10 semiannual payments
PE 14-3B Discount amortization
Using the bond from Practice Exercise 14-2B, journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar.
Answer:
Interest Expense 176,040
Discount on Bonds Payable* 11,040
Cash 165,000
* $110,401 ÷ 10 semiannual payments
Answer:
Interest Expense 176,040
Discount on Bonds Payable* 11,040
Cash 165,000
* $110,401 ÷ 10 semiannual payments