question archive Xonic Corporation issued $7

Xonic Corporation issued $7

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Xonic Corporation issued $7.8 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonic's fiscal year ends on December 31.


a-c. Record the issuance of the bonds and entries after the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars.)

 1  Record the issuance of bonds.

2Record the bond interest and amortize bond premium.


Journal entry worksheet

  • Record the final interest payment and amortize bond premium.


Journal entry worksheet

  • Record the retirement of the bonds.


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