Parker Corporation had the following bond transactions during the fiscal year 2017: On January 1: issued 100 $1,000 bonds at 103. The 5-year bonds is…
Parker Corporation had the following bond transactions during the fiscal year 2017: On January 1: issued 100 $1,000 bonds at 103. The 5-year bonds is dated January 1, 2017. The contract interest rate is 5%. Straight-line amortization method is used. Interest is payable semi-annual on January 1 and July 1. On July 1: Parker Corporation issued $500,000 of 10%, 10-year bonds. The bonds dated July 1, […]