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Untitled Document22 - Account Title and Description Ref...

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Bonds issued at par The journal entries made by Lighting Process, Inc. to record its issuance at par of  $10,000 ten-year bonds with a coupon rate of 10% and the semiannual interest  payments made on June 30 and December 31 are as shown. Gener al Journ al Date
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Unformatted text preview: Account Title and Description Ref. Debit Credit 20X1 July 1 Cash 10,000 Bonds Payable 10,000 Dec. 31 Interest Expense ($10,0000 × 10% × ½) 500 Cash 500 Semiannual interest payment 20X2 June 30 Interest Expense ($10,000 × 10% × 1 / 12 ) 500 Cash 500 Semiannual interest payment...
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This note was uploaded on 12/25/2011 for the course FIN 3312 taught by Professor Staff during the Spring '08 term at Texas State.

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