On March 31, 2015, Gardner Corporation received authorization toissue $80,000 of 9 percent, 30-year bonds payable. The bonds payinterest on March 31 and September 30. The entire issue was datedMarch 31, 2015, but the bonds were not issued until April 30, 2015.They were issued at face value.
a-c. Record entries issue of bonds and related interest expense.(If no entry is required for a transaction/event, select"No journal entry required" in the first accountfield.)
On March 31, 2015, Gardner Corporation received authorization toissue $80,000 of 9 percent, 30-year bonds payable. The bonds payinterest on March 31 and September 30. The entire issue was datedMarch 31, 2015, but the bonds were not issued until April 30, 2015.They were issued at face value. |
| a-c. | Record entries issue of bonds and related interest expense.(If no entry is required for a transaction/event, select"No journal entry required" in the first accountfield.) |
Related questions
Xonic Corporation issued $7,300,000 of 20-year, 8 percent bondson April 1, 2015, at 102. Interest is due on March 31 and September30 of each year, and all of the bonds in the issue mature on March31, 2035. Swanson's fiscal year ends on December 31. |
| a-c. | Record the issuance of the bonds and entries to be passed postthe issue. (If no entry is required for atransaction/event, select "No journal entry required" in the firstaccount field.) |
