Record the entry for cash sale of bonds, Financial Accounting

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Record the entry for cash sale of bonds

Response to the following problem:

Kemper Company plans to issue 6% bonds on January 1, 2011, with a par value of $1,000,000. The company sells $900,000 of the bonds on January 1, 2011.

The remaining $100,000 sells at par on March 1, 2011.

The bonds pay interest semiannually as of June 30 and December 31.

Record the entry for the March 1 cash sale of bonds.

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Financial Accounting: Record the entry for cash sale of bonds

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Financial Accounting: Record the entry for cash sale of bonds

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