Celine dion company issued 600000 of 10 20-year bonds on, Ask an Expert

Finance

Celine Dion Company issued $600,000 of 10% 20-year bonds on January 1, 2008, at 102. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight line method of amortization for bond premium or discount.

Prepare the journal entries to record the following.

a) The issuance of the bonds.
b) The payment of interest and the related amortization on July 1, 2008.
c) The accrual of interest and the related amortization on December 31, 2008

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9214104

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