2 January 2018, MAYA Bhd issued RM1,500,000 of 10% bond at 106.231 with market interest 11% due 31 December 2018. Interest on the bonds is payable annually each 31 December. Required: i. Prepare the journal entries for the issuance of the bonds. ii. Prepare an amortisation schedule/table for 2018 - 2021 for the bonds. iii. Prepare the journal entry to record the interest payment and the amortization for 2018 and 2019.

2 January 2018, MAYA Bhd issued RM1,500,000 of 10% bond at 106.231 with market interest 11% due 31 December 2018. Interest on the bonds is payable annually each 31 December. Required: i. Prepare the journal entries for the issuance of the bonds. ii. Prepare an amortisation schedule/table for 2018 - 2021 for the bonds. iii. Prepare the journal entry to record the interest payment and the amortization for 2018 and 2019.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 8RE

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