E13.4 (LO 1) Entries for BondCeline Dion Company issued bonds on January 1, 2025. Interest is payable semiannually onJuly 1 and January 1. Dion Company uses the straight-line method of amortization for bondpremium or discount. Pertinent information follows:Transactions-Straight-LinePar value of bondsStated interest rateTermIssue price$600,00010%InstructionsPrepare the journal entries to record the following.a. The issuance of the bonds.20 years102b. The payment of interest and related amortization on July 1, 2025.C.The accrual of interest and the related amortization on December 31, 2025.NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference acell), into the yellow shaded input cells.

Amortization: Over a certain length of time, the accounting practice known as amortization is…

Celine Dion Company issued bonds on January 1, 2025. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount. Pertinent information follows: Par value of bonds Stated interest rate Term Issue price $ 600,000 10% 20 years 102 Instructions Prepare the journal entries to record the following. a. The issuance of the bonds. b. The payment of interest and related amortization on July 1, 2025. C. The accrual of interest and the related amortization on December 31, 2025.

Celine Dion Company issued bonds on January 1, 2025. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount. Pertinent information follows: Par value of bonds Stated interest rate Term Issue price $ 600,000 10% 20 years 102 Instructions Prepare the journal entries to record the following. a. The issuance of the bonds. b. The payment of interest and related amortization on July 1, 2025. C. The accrual of interest and the related amortization on December 31, 2025.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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