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Business, 26.07.2019 00:30 megamegs80

On february 1, 2018, strauss-lombardi issued 9% bonds, dated february 1, with a face amount of $800,000. the bonds sold for $731,364 and mature on january 31, 2038 (20 years). the market yield for bonds of similar risk and maturity was 10%. interest is paid semiannually on july 31 and january 31. strauss-lombardi’s fiscal year ends december 31. required: 1. to 4. prepare the journal entry to record their issuance by strauss-lombardi on february 1, 2018, interest on july 31, 2018 (at the effective rate), adjusting entry to accrue interest on december 31, 2018 and interest on january 31, 2019

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On february 1, 2018, strauss-lombardi issued 9% bonds, dated february 1, with a face amount of $800,...

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