Question Details

Prepare all journal entries made in 2010 related to the bond issue


a Ex. 1
Vance Company issued $600,000, 10%, 20-year bonds on January 1, 2010, at 104. Interest is payable semiannually on July 1 and January 1. Vance uses the straight-line method of amortization and has a calendar year end.

Instructions
Prepare all journal entries made in 2010 related to the bond issue.


a Ex. 2
Jantz Company issued €500,000, 11%, 10-year bonds on December 31, 2010, for €460,000. Interest is payable semiannually on June 30 and December 31. Jantz uses the straight-line method of amortization and has a calendar year end.

Instructions
Prepare the appropriate journal entries on
(a)	December 31, 2010.
(b)	June 30, 2011.




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