Question

On January 1, 2022, Blue Corporation issued $1,610,000 face value, 8%, 10- year bonds at $1,506,675. This price resulted in an effective-interest rate of 9% on the bonds. Blue uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1.
Required:
Prepare the journal entry to record the issuance of the bonds on January 1, 2022.

Answer 1

Explanation:

The unanimous Declaration of the thirteen united States of America, When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature