Homework Help: Accounting

Posted by Ashley on Sunday, October 16, 2011 at 5:51pm.

Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2010 using the straight-line method.

INFO:
Sharapove Co common stock, $100 par 200 shares $37,400

U.S. government bonds, 11%, due 4/1/2020, interest payable 4/1 & 10/1, 110 bonds of $1,000 par each $110,000

McGrath Co 12% bonds, par $50,000 dated 3/1/10 purchased at 104 plus accrued interest, interest payable annually on 3/1, due 3/1/2030 $54,000

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