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Declension Company sold bonds that had a face (maturity) value of $1,000,000 on May 1, 2019...

Declension Company sold bonds that had a face (maturity) value of $1,000,000 on May 1, 2019 for $900,000. The bonds had a 10 year term with a maturity date of April 30, 2029. The annual interest rate on the bonds is 12 percent which is paid semiannually each October 31 and April 30. What entries should Declension Company make on a. issuance of the bond on May 1, 2019 b. on payment of interest on October 31, 2019 c. on the accrual of interest on the fiscal year end December 31, 2019? D On retirement of the bond at 102 on December 31, 2019.

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Journal Entries:

Journal Entries:

ekkarill92 answered 2 years ago
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