On January 1, 2018, Kohl Corporation issued $700,000, 8%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Kohl Corporation has a calendar year end. Instructions Prepare entries relating to: January 1, 2018 June 30, 2018 July 1, 2018 December 31, 2018.

On January 1, 2018, Kohl Corporation issued $700,000, 8%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Kohl Corporation has a calendar year end. Instructions Prepare entries relating to: January 1, 2018 June 30, 2018 July 1, 2018 December 31, 2018.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 8RE

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Question

On January 1, 2018, Kohl Corporation issued $700,000, 8%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Kohl Corporation has a calendar year end.

Instructions

Prepare entries relating to:

January 1, 2018
June 30, 2018
July 1, 2018
December 31, 2018.

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