(1) Period Issue Date: 2 Req 1 and 2 (2) Cash Paid for Interest. 7 $1,650 1,650 View transaction list No 1 2 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $55,000. 3. Interest expense increases each period because the carrying value of the debt issued at a discount increases over t Complete this question by entering your answers in the tabs below. Req 3 Record the bond issue and first interest payment assuming the face amount of bonds payable is $55,000. (If no entry is requi particular transaction/event, select "No Journal Entry Required in the first account fleid.) View journal entry worksheet (3) Interest Expense Transaction 2 $1,788 1,793 Cash (4) Increase in Carrying Value $138 143 Bonds Payable (5) Carrying Value $51,092 51,230 51,373 General Journal Interest Expense Discount on Bonds Payable Cash Debit 55.000 1.788 Credit 65,000 131 1.657

(1) Period Issue Date: 2 Req 1 and 2 (2) Cash Paid for Interest. 7 $1,650 1,650 View transaction list No 1 2 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $55,000. 3. Interest expense increases each period because the carrying value of the debt issued at a discount increases over t Complete this question by entering your answers in the tabs below. Req 3 Record the bond issue and first interest payment assuming the face amount of bonds payable is $55,000. (If no entry is requi particular transaction/event, select "No Journal Entry Required in the first account fleid.) View journal entry worksheet (3) Interest Expense Transaction 2 $1,788 1,793 Cash (4) Increase in Carrying Value $138 143 Bonds Payable (5) Carrying Value $51,092 51,230 51,373 General Journal Interest Expense Discount on Bonds Payable Cash Debit 55.000 1.788 Credit 65,000 131 1.657

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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