Frankum Company has issued three different bonds during 2014. Interest is payable semiannually on each...
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Frankum Company has issued three different bonds during 2014. Interest is payable semiannually on each of these bonds. 1. On January 1, 2014, 1,110, 8%, 5-year, $1,000 bonds dated January 1, 2014, were issued at face value. 2. On July 1, $877,400, 9%, 5-year bonds dated July 1, 2014, were issued at 103. 3. On September 1, $348,300, 7%, 5-year bonds dated September 1, 2014, were issued at 98. Prepare the journal entries to record each bond transaction at the date of issuance.
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