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Bond Interest Payments and Amortization Instructions Chart of Accounts Instructions Bangles Corporation issued 5-year,...

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Accounting

Bond Interest Payments and Amortization
Instructions
Chart of Accounts
Instructions
Bangles Corporation issued 5-year, 11% bonds with a face value of $300,000 on April 1,2019, for $288,000. Interest is paid semiannually at October 1 and April 1.
Required:
Prepare the journal entries to record the issuance on April 1,2019, and the first interest payment on October 1,2019. Use the straight-line method to amortize the discount.
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