please help theyre all for the same question VIVE MOLARRecord the maturity of the bonds on December 31, 2023.Complete this question by entering your answers in the tabs below.Required A Required B Required CThe issuance of bonds on December 31, 2021.View transaction listNoDateDecember 31,2021View joumal entry won.aneetDateDecember 31,2022acord untryCashNote: Enter deltits benare cBonds payableRecord the interest payment and amortization on December 31, 2022.Record entryhealoumal||Note: Ester desks sekind traa crediks!DateDecember 31.2023General JournalClear entry*Required ARequired ERecord the interest payment and amortization on December 31, 2023.General JournalClaw entryDebitDebitDebit102,000CreditRequired C >view general journalCreditCreditView general Journal102,000DateJune 30, 20222Record the interest payment and amortization on June 30, 2022.Note: Enter debits before creditRecord entry3DateJune 30, 2023Note: Enter debits before b'edits.Stacord entryDateDecember 31,2023||14||Note: Enter debits before creciesRecord entryGeneralRecord the interest payment and amortization on June 30, 2023.CClear antrymaGeneral JoumalRecord the payment on maturity on December 31, 2023.Clear andryGeneral JournalCeer andyRequired ADebitDebilView gamewer journalDebitCreditCreditYe ganeral JournalCreditRequired C >View general journal Dobbs Company Issues 7%, two-year bonds, on December 31, 2021, with a par value of $102,000 and semiannual Interest payments.Carrying Value$ 95,96097,47098,980100,490102,000Semiannual Period-EndUnamortized Discount$ 6,0404,5303,0201,5100Use the above straight-line bond amortization table and prepare Journal entries for the following.(a) The Issuance of bonds on December 31, 2021.(b) The first through fourth Interest payments on each June 30 and December 31.(c) Record the maturity of the bonds on December 31, 2023.(8)(1)(2)(3)Saved12/31/20216/30/202212/31/20226/30/202312/31/2823

When governments and businesses need to raise money, they issue bonds. Upon purchasing a bond, you are essentially lending money to the issuer, who in turn promises to return the principal amount plus interest on a prearranged date, typically twice a year.Calculations related to the journal entries:Excel formula:a. Journal entry to issuance of bonds: DateGeneral Journal DebitCreditDecember 31, 2021Cash $95,960Discount on bonds payable $6,040To Bonds payable $102,000(To record the issuance of bonds)b. Journal entry to record the first to fourth interest payments:DateGeneral Journal DebitCreditJune 30, 2022Interest expense$5,080To Discount on bonds payable$1,510To Cash$3,570(To record the first interest payment)December 31, 2022Interest expense$5,080To Discount on bonds payable$1,510To Cash$3,570(To record the second interest payment)June 30, 2023Interest expense$5,080To Discount on bonds payable$1,510To Cash$3,570(To record the third interest payment)December 31, 2023Interest expense$5,080To Discount on bonds payable$1,510To Cash$3,570(To record the fourth interest payment)c. Journal entry to record the maturity of bonds: DateGeneral Journal DebitCreditDecember 31, 2023Bonds payable$102,000To Cash$102,000(To record the maturity of bonds)

Business

Accounting

Dobbs Company Issues 7%, two-year bonds, on December 31, 2021, with a par value of $102,000 and semiannual Interest payments. Carrying Value $95,960 97,470 98,980 (8) (1) (2) Semiannual Period-End 12/31/2021 6/30/2022 12/31/2022 Unamortized Discount $ 6,040 4,530 3,020 1,510 0 (3) (4) Use the above straight-line bond amortization table and prepare Journal entries for the following. 6/30/2023 12/31/2023 100,490 102,000 (a) The Issuance of bonds on December 31, 2021. (b) The first through fourth Interest payments on each June 30 and December 31. (c) Record the maturity of the bonds on December 31, 2023.

Dobbs Company Issues 7%, two-year bonds, on December 31, 2021, with a par value of $102,000 and semiannual Interest payments. Carrying Value $95,960 97,470 98,980 (8) (1) (2) Semiannual Period-End 12/31/2021 6/30/2022 12/31/2022 Unamortized Discount $ 6,040 4,530 3,020 1,510 0 (3) (4) Use the above straight-line bond amortization table and prepare Journal entries for the following. 6/30/2023 12/31/2023 100,490 102,000 (a) The Issuance of bonds on December 31, 2021. (b) The first through fourth Interest payments on each June 30 and December 31. (c) Record the maturity of the bonds on December 31, 2023.

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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