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The December 31, 2005, balance sheet of Far Imports includes

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The December 31, 2005, balance sheet of Far Imports includes the following items:
The bonds were issued on December 31, 2004, at 97, with interest payable on June 30 and December 31 of each year. The straight-line method is used for discount amortization.
On March 1, 2006, Far Imports retired $400,000 of these bonds at 98 plus accrued interest.
Prepare the journal entries to record retirement of the bonds, including accrual of interest since the last payment and amortization of the discount.


Please note that the question did not paste correctly, but I think i have answered the same problem before.

is this the missing data:

9% bonds
payable due 12/31/2013 ......................


Discount on
bonds payable .............................


Please check the date as well (Bolded)

Customer: replied 3 years ago.
Yes but the date is 2014

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Customer: replied 3 years ago.
Not really sure how you got all the numbers.. Could you show the formulas?

If you stop at any cell, you will be able to see the formula used ryanh. For example, if you stop at cell C2, you will see "=400000*0.09*(2/12)", and so on.

Please check and advise if you are still confused

I wish that you always rate my services as "Excellent" :) so please advise if you needed further explanations


Customer: replied 3 years ago.

I figured out where you got everything except for on interest expense and the disc bonds payable journal entry.. how did you get (24000/10)

I will get back to you in a couple of minutes as I am helping someone with a very long timed assignment now rynah

Sorry about that

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