Wempe Co. sold $3,477,000, 8%, 10-year bonds on January 1, 2014. The bonds were dated...
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Wempe Co. sold $3,477,000, 8%, 10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually.
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Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 103 and (2) 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare amortization tables for issuance of the bonds sold at 103 for the first three interest payments. Annua Interest Periods Interest to Be Paid Interest Expense to Be Recorded Premium Amortization Unamortized Premiumm Bond Carrying Value Issue date 2 Prepare amortization tables for issuance of the bonds sold at 95 for the first three interest payments Annua Interest Periods Interest to Be Paid Interest Expense to Be Recorded Premium Amortization Unamortized Premiumm Bond Carrying Value Issue date 2 SHOW LIST OF ACCOUNTS LINK TO TEXT
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