An insurance company issued a $45,000, 6% 10 year bond payable at 112 on January 1,...

An insurance company issued a $45,000, 6% 10 year bond payable at 112 on January 1, 2018. Interest is paid semiannually on Jan 1 and July 1.

1. Journalize the issuance of bond payable on January 1

2. Journalize the payment of semi-annual interest and amortization of the bond discount or premium on July 1, 2018

Expert Solution

ekkarill92 answered 2 years ago

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