Accounting - Pujols Industries - Bond Issue Entries
On February 28, 2006, Pujols Industries issued 10% bonds, dated January 1, with a face amount of $48 million. The bonds were priced at $42 million (plus accrued interest) to yield is 12%. The effective interest method is used. Interest is paid semiannually on June 30 and December 31. Pujols' fiscal year ends October 31st. Re