(Answered) Question - sanidas company issued 500000 6 30-year bonds on

Accounting

Question - Sanidas Company issued $500,000, 6%, 30-year bonds on January 1, 2012, at 103. Interest is payable annually on January 1. Sanidas uses straight-line amortization for bond premium or discount.

Instructions - Prepare the journal entries to record the following events.

(a) The issuance of the bonds.

(b) The accrual of interest and the premium amortization on December 31, 2012.

(d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.

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