Brief Exercise 15-12 a-b
Blossom Company Issues $4,000,000, 10-year, 8% bonds at 95, with interest payable annually on January 1. The straight-line method is used to amortize bond discount.
Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not
indent manually.)
Deke Account TRins and Explanation
Deblt
Cradit
Jan. 1
Prepare the adjusting journal entry to record interest expense and bond discount amortization on December 31, 2020. (Credit account titles are automaticsily
indented when amount is entered. Do not indent manually.)
Daike Account Tides and Explanation
Dec. 31
Debit
Credit