On January 1, 2013, Chu Company issued $300,000 of five-year, 6 percent bonds at 101. Interest is…

 
   

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On January 1, 2013, Chu Company issued $300,000 of five-year, 6 percent bonds at 101. Interest is payable annually on December 31. The premium is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for 2013 and 2014. View Solution:
On January 1 2013 Chu Company issued 300 000 of five year