Accounting for Issuance of Bonds Example and Journal Entry
- Posted by webchimpThe issuance cost will reduce the bonds payable balance from $ 10 million on the initial recording. The journal entry is debiting debt issue expense $ 120,000 and credit debt issuance cost $ 120,000. Note that in 2024 the corporation’s entries included 11 monthly adjusting entries to accrue $750 of interest expense plus the June […]