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Dobbs Company Issues 5%, two-year bonds, on December 31, 2019, with a par value of $200,000 and semlannual Interest payments. Semiannual Period-End (0) (1) (2) (3) (4) 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 Unamortized Discount $12,000 9,000 6,000 3,000 Carrying Value $188, 000 191,000 194,000 197,000 200, 000 Use the above straight-line bond amortization table and prepare Journal entries for the following. Requlred: (a) The Issuance of bonds on December 31, 2019. (b) The first through fourth interest payments on each June 30 and December 31,

Dobbs Company Issues 5%, two-year bonds, on December 31, 2019, with a par value of $200,000 and semlannual Interest payments. Semiannual Period-End (0) (1) (2) (3) (4) 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 Unamortized Discount $12,000 9,000 6,000 3,000 Carrying Value $188, 000 191,000 194,000 197,000 200, 000 Use the above straight-line bond amortization table and prepare Journal entries for the following. Requlred: (a) The Issuance of bonds on December 31, 2019. (b) The first through fourth interest payments on each June 30 and December 31,

FINANCIAL ACCOUNTING
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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Soved Dobbs Company Issues 5%, two-year bonds, on December 31, 2019, with a par value of $200,000 and semlannual interest payments. Semiannual Period-End (0) (1) (2) (3) (4) Unamortized Discount $12,000 9,000 6,000 3,000 Carrying Value $188,000 191,000 194,000 197,000 200,000 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 Use the above stralght-Iline bond amortization table and prepare journal entries for the followlng. RequIred: (a) The Issuance of bonds on December 31, 2019. (b) The first through fourth interest payments on each June 30 and December 31. (C) Record the maturity of the bonds on December 31, 2021. Complete this question by entering your answers in the tabs below. nces. Required A Required B Required C The issuance of bonds on December 31, 2019. View transaction list Journal entry worksheet 1 Record the issue of bonds with a par value of $200,000 cash on December 31, 2019. Note: Enter debits before credits. Debit Credit General Journal Date Dec 31, 2019 Next >
Transcribed Image Text:Soved Dobbs Company Issues 5%, two-year bonds, on December 31, 2019, with a par value of $200,000 and semlannual interest payments. Semiannual Period-End (0) (1) (2) (3) (4) Unamortized Discount $12,000 9,000 6,000 3,000 Carrying Value $188,000 191,000 194,000 197,000 200,000 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 Use the above stralght-Iline bond amortization table and prepare journal entries for the followlng. RequIred: (a) The Issuance of bonds on December 31, 2019. (b) The first through fourth interest payments on each June 30 and December 31. (C) Record the maturity of the bonds on December 31, 2021. Complete this question by entering your answers in the tabs below. nces. Required A Required B Required C The issuance of bonds on December 31, 2019. View transaction list Journal entry worksheet 1 Record the issue of bonds with a par value of $200,000 cash on December 31, 2019. Note: Enter debits before credits. Debit Credit General Journal Date Dec 31, 2019 Next >
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