Mahoney Sales_Issue of bonds at discount

Question # 00003876 Posted By: ACCOUNTS_GURU Updated on: 11/22/2013 12:54 AM Due on: 12/31/2013
Subject Accounting Topic Accounting Tutorials:
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On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9,400. They were 5-year bonds with a stated rate of 4%, and pay semi-annual interest payments. Mohoney Sales uses straight line method to amortize bond discount. Please provide the journal entry for the bond issuance and first interest payment including the amortization of the discount.
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  1. Tutorial # 00003666 Posted By: ACCOUNTS_GURU Posted on: 11/22/2013 12:55 AM
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    Mahoney_Sales_Bond_issue_and_discount_amortization.xlsx (9.17 KB)

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