CengageNOWv2| Online teachin × Cengage Learning X b Answered: Find the locations and x i v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLoca. ☆ 00 Ch 14-2 Practice Exercises Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,600,000, 10%, 7-year bond that pays semiannual interest of $380,000 ($7,600,000 × 10% x ½), receiving cash of $8,402,799. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash 8,402,799 Premium on Bonds Payable 807,299 X Bonds Payable 7,600,000 Feedback Check My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. 2:58 PM P Type here to search 3/17/2020 2. II
CengageNOWv2| Online teachin × Cengage Learning X b Answered: Find the locations and x i v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLoca. ☆ 00 Ch 14-2 Practice Exercises Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,600,000, 10%, 7-year bond that pays semiannual interest of $380,000 ($7,600,000 × 10% x ½), receiving cash of $8,402,799. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash 8,402,799 Premium on Bonds Payable 807,299 X Bonds Payable 7,600,000 Feedback Check My Work Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. 2:58 PM P Type here to search 3/17/2020 2. II
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
how do I find premium bonds payable?
Transcribed Image Text:CengageNOWv2| Online teachin ×
Cengage Learning
X b Answered: Find the locations and x
i v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLoca. ☆
00
Ch 14-2 Practice Exercises
Issuing Bonds at a Premium
On the first day of the fiscal year, a company issues a $7,600,000, 10%, 7-year bond that pays semiannual interest of $380,000 ($7,600,000 × 10% x ½),
receiving cash of $8,402,799.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
Cash
8,402,799
Premium on Bonds Payable
807,299 X
Bonds Payable
7,600,000
Feedback
Check My Work
Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account.
2:58 PM
P Type here to search
3/17/2020
2.
II
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