Please help me!!!
Bonds Issued At A Premium Bunkichi Corporation issued the following bonds at a premium:
Date of issue and sale March 1, 20
Principal amount $800,000
Sale price of bonds 103
Denomination of bonds $1,000
Life of bonds 10 years
Stated rate 8% payable semiannually on August 31 and February 28
1. Prepare journal entries for:
a. Issuance of bonds at a premium
b. Interest payment and premium amortization on the bonds on August 31, 20.
c. Year end adjustment on the bonds for20-1.
d. Reversing entry for the beginning of 20-2.
e. Interest payments and premium amortization on the bonds for 20-2
2. Calculate the carrying value of the bonds on August 31, 20-2
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