alpine company issues $2.0 million, 10-year, 7% bonds at 99, with interest payable on december 31. the straight-line method is used to amortize bond discount. prepare the journal entry to record the sale of these bonds on january 1, 2022. (credit account titles are automatically indented when amount is entered. do not indent manually) date account titles and explanation debit credit jan. 1 etextbook and media list of accounts prepare the journal entry to record interest expense and bond discount amortization on december 31, 2022, assuming no previous accrual of interest. (credit account titles are automatically indented when amount is entered. do not indent manually) date account titles and explanation debit credit dec.3 31

alpine company issues $2.0 million, 10-year, 7% bonds at 99, with interest payable on december 31. the straight-line method is used to amortize bond discount. prepare the journal entry to record the sale of these bonds on january 1, 2022. than:

Cash 1,980,000

Disc on BP 20,000

BP 2,000,000

12-31

Int exp 142,000

Disc on BP 2,000

Cash 140,000

A bond is what?

Governments and businesses both issue bonds as a means of raising capital. By purchasing a bond, you are essentially lending the issuer money. In exchange, they promise to repay you the face amount of the loan on a particular date and to make periodic interest payments along the way, typically twice a year.

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