Long-Term Liabilities

On January 1, 2019, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable annually on January 1.

Instructions

Prepare the journal entries to record the following events.

  1. The issuance of the bonds.
  2. The accrual of Interest on December 31, 2019.
  3. The payment of Interest on January 1, 2020.

Solution

Are you need any help? Contact Us now.

Latest Articles

« »