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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Dobbs Company issues 7%, two-year bonds, on December 31, 2013, with a par value of $93,000 and semiannual interest payments.
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| Semiannual Period-End | Unamortized Discount | Carrying Value | ||||||
| (0) | 12/31/2013 | Â | $ | 5,860 | Â | $ | 87,140 | Â |
| (1) | 6/30/2014 | Â | Â | 4,395 | Â | Â | 88,605 | Â |
| (2) | 12/31/2014 | Â | Â | 2,930 | Â | Â | 90,070 | Â |
| (3) | 6/30/2015 | Â | Â | 1,465 | Â | Â | 91,535 | Â |
| (4) | 12/31/2015 | Â | Â | 0 | Â | Â | 93,000 | Â |
| Â | ||||||||
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| Use the above straight-line bond amortization table and prepare journal entries for the following. |
Record the The issuance of bonds on December 31, 2013.
Record the interest payment and amortization on June 30, 2014.
Record the interest payment and amortization on December 31, 2014.
Record the interest payment and amortization on June 30, 2015.
Record the interest payment and amortization on December 31, 2015.
Record the payment on maturity on December 31, 2015.
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