Journal entries for bonds?

On January 1, 2008, a corporation issued $150,000, 8%, 10-year bonds, dated January 1, 2008, at 98. The bonds pay interest semiannually on January 1 and July 1. The company uses the straight-line method of amortization and has a calendar year end. Prepare the journal entries that the... show more On January 1, 2008, a corporation issued $150,000, 8%, 10-year bonds, dated January 1, 2008, at 98. The bonds pay interest semiannually on January 1 and July 1. The company uses the straight-line method of amortization and has a calendar year end.



Prepare the journal entries that the corporation would make related to the bond issue on the dates below:

a. January 1, 2008
b. July 1, 2008
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