On May 1, 2020, Carla Vista Corp

Accounting Dec 14, 2020

On May 1, 2020, Carla Vista Corp. issued $600,000, %9, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepared annually on December 31.

a)prepare the journal entry to record the issuance of bonds

b)record the actual interest on 31/12/20

c)journalize the payment of interest on 1/5/21

d)Assume Al majed enterprise will issue bond al a premium of 20% show journal entry

e)Assume Al majed Enterprise wil lissue the bond at discount of 7% show journal entry

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