Business Assignment- foregoing transactions
Entries for Bonds Payable and Installment Note TransactionsThe following transactions were completed by Hobson Inc., whose fiscal year is the calendar year:2012July. 1. Issued $8,890,000 of five-year, 11% callable bonds dated July 1, 2012, at a market (effective) rate of 13%, receiving cash of $8,250,911. Interest is payable semiannually on December 31 and June 30.Oct. 1. Borrowed $120,000 as a 10-year
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26 Oct 2017