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Question: Woodwick Company issues 10%, five-year bonds, on December 31, 2016, with a par value of $200,000 and semiannual interest payments.

Semiannual Period-End		Unamortized Premium	Carrying Value
(0)	12/31/2016	$16,222	$216,222
(1)	6/30/2017	14,600	214,600
(2)	12/31/2017	12,978	212,978

Use the above straight-line bond amortization table and prepare journal entries for the following.

(a) The issuance of bonds on December 31, 2016.

(b) The first interest payment on June 30, 2017.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92642606

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