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P20.1 Saltville Hospital issued $1 million of five years, 6 percent bonds at 100 percent...

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Accounting

P20.1 Saltville Hospital issued $1 million of five years, 6 percent bonds at 100 percent and accrued interest on August 1, 20x1. Issue costs were $56,000. Interest is payable semiannually, on April 1 and October 1. The maturity date of these bonds is April 1, 20x6. On February 1, 20x2, $200,000 of these bonds are reacquired at 98 percent and accrued interest.

Required: Prepare entries to record all matters relating to the bond issue from August 1, 20x1, through February, 1, 20x2.

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