会计英语Clan Company issued $2,000,000 face value,3 year 12% bon
会计英语
Clan Company issued $2,000,000 face value,3 year 12% bonds.Interest is paid semiannually April 1 and October 1.The bonds were sold on April 1,2004 for $2,101,520 which represent an effective interest cost of 10% per year.
a) Amortization table using the effective or scientific interest method.
b) Prepare journal entries for 2004 and 2005.