(Answered) On january 1 2013 waverly company issued 250000 of five

Accounting

On January 1, 2013, Waverly Company issued $250,000 of five year, 6 percent bonds at 102. Interest is payable semiannually on June 30 and December 31. The premium is amortized using the straight line method.

Required:

Prepare the journal entries to record the bond transactions for 2013 and 2014.

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