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On March 1,20A,Warner Corporation,a Calendar Year Company,issued 40 of Its

Question 94

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On March 1,20A,Warner Corporation,a calendar year company,issued 40 of its $1,000,8%,five-year bonds at par.The bonds were dated March 1,20A,and the first interest payment will be on February 28,20B.The accounting period ends December 31.
Part A: Complete the journal entry grid for each of the following dates (round to the nearest dollar)
Part B: Discuss why an entry is needed on December 31,20A
On March 1,20A,Warner Corporation,a calendar year company,issued 40 of its $1,000,8%,five-year bonds at par.The bonds were dated March 1,20A,and the first interest payment will be on February 28,20B.The accounting period ends December 31. Part A: Complete the journal entry grid for each of the following dates (round to the nearest dollar) Part B: Discuss why an entry is needed on December 31,20A

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