83) On January 1, 2014, Patterson Corporation issued $100,000, 9%, 5-year bonds with semiannual interest payments on June 30 and December 31. The bonds were issued at $96,149 yielding an effective-interest rate of 10%. Patterson uses the effective-interest method of amortization. The company's fiscal year ends on December 31.
Required:
Prepare the journal entries that Patterson would make on January 1, June 30 and December 31, 2014. Round all amounts to the nearest dollar. Omit explanations.
84) On January 1, 2014, Tarantino Corporation issued $4,000,000, 9%, 5-year bonds at 96. The bonds pay semiannual interest on January 1 and July 1. Tarantino uses the straight-line method of amortization and has a calendar year end.
Required:
Prepare all the journal entries that Tarantino Corporation would make related to this bond issue through January 1, 2015. Omit explanations.