The Following Section Is Taken from Brown Corp's Statement of Financial

question 21

Essay

The following section is taken from Brown Corp's statement of financial position at December 31, 2013. Interest is payable semiannually on January 1 and July 1. The bonds are callable on any interest date.
Instructions
(a) Journalize the payment of the bond interest on January 1, 2014.
(b) Assume that on January 1, 2014, after paying interest, Brown calls bonds having a face value of $1,600,000. The call price is 104. Record the redemption of the bonds.
(c) Prepare the entry to record the payment of interest on July 1, 2014, assuming no previous accrual of interest on the remaining bonds.

---

Definitions:

Apps Culture

The influence mobile applications have on society and how individuals interact, communicate, and conduct business through them.

Mobile Technology

The array of handheld devices and accompanying software and applications that facilitate remote communication and computing.

HR Professionals

Individuals responsible for managing human resource functions, including recruitment, policy formulation, employee relations, and training.

Self-Service

A business model or system design that allows customers to perform services themselves without the assistance of direct service employees.