Alpha Company purchased $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid annually on June 30.
Alpha Company purchased $1,000, 5 years, 5% bond on July 1, 2015 for $950. Interest is paid annually on June 30.
The straight line method of amortization is used for both premiums & discounts. Use this information to record Alpha Company’s General Journal Entry (without explanation) for June 30, 2016. If no entry is required then write “No Entry Required”.
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