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Recording Bonds issued at face value and associated interest

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On January 1 2008, Demski Corp. issued $300,000 of 10 year, 5 percent bonds at this face amount. Interest is payable on Dec 31 of each year with the first payment due 31 Dec 2008.

Prepare all the general journal entries related to these bonds for 2008 and 2009.

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On January 1 2008, Demski Corp. issued $300,000 of 10 year, 5 percent bonds at this face amount. Interest is payable on Dec 31 of each year with the first payment due 31 Dec 2008.

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