Alpha Company purchased a $1000, 5 years, 6% bond on July 1, 2015 for $960. Interest is paid annualy on june 30. The straight line method of amortization is used for both premiums & discounts.
Alpha Company purchased a $1000, 5 years, 6% bond on July 1, 2015 for $960. Interest is paid annualy on june 30.
The straight line method of amortization is used for both premiums & discounts. Use this information to prepare the General Journal entry (without explanation) for the June 30, 2016. If no entry is required put ” no entry required”
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