Bonds Payable-Issued Between Interest Dates

question 63

Essay

Bonds payable-issued between interest dates
Barney Corporation received authorization on December 31,Year 1,to issue $2,500,000 of 6%,10-year bonds.The interest payment dates are June 30 and December 31.All the bonds were issued at a price of 100,plus accrued interest,on February 28,Year 2,two months after the authorization of the bond issue. (d)Prepare the journal entry at February 28,Year 2,to record the issuance of the bonds.
(e)Prepare the journal entry at June 30,Year 2 to record the first semiannual interest payment on the bonds.

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Definitions:

Difference

A distinct separation or variation between two or more things, often highlighting unique characteristics or qualities.

Prejudice

Preconceived opinions or judgments toward individuals or groups without factual basis, often involving negative attitudes or discrimination.

Generalizations

Statements or conclusions made based on common characteristics that apply to a group or category rather than specific instances.

Stereotypes

Oversimplified, widely held fixed ideas or images about a particular type of person or thing.