Lilo corp issued 100000000 face value of bonds at 975 on, Ask an Expert

Accounting

Lilo Corp. Issued $100,000,000 face value of bonds at 97.5 on Jan 3, 2016. The bonds have a stated interest rate of 6% and are priced for a market rate of 7%. The Bonds pay semiannual interest on July 1 and January 1.

1) Give the jounral entries to record the issuance of the bond

2) Give the jounral entries for July 1st 2016

3) Give the journal entry(ies) for Dec 31, 2016

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91973777

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