Accounting -Problem 1 Accounting For Bonds – Bond Issuance

| January 31, 2017

Question
Problem 1 Accounting For Bonds – Bond Issuance

On January 1, 2013 Husky Inc. issued $20 million of 8% semi-annual bonds dated December 31, 2017. Bonds with similar characteristics to these pay interest at a rate of 5%.

Required

1. Record the issuance of the bond at 1/1/13. (show

calculation/inputs used)

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