est rates were 6%, three companies issued bonds on January 1, 2021. Each company has a December 31 year end and each company issued bonds with a face value of $100.000 that pay interest annually on December 31. Bonita Limited sold its bonds at 100 and offered a coupon interest rate of 6%, while Coronado Corp. sold its bonds at 93 and offered a coupon interest rate of 4%, and Sunland Inc. sold its bonds at 105 and offered a 8% coupon interest rate. Prepare the entry that each company would record for the payment of interest on December 31, 2021. (Round answers to O decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

est rates were 6%, three companies issued bonds on January 1, 2021. Each company has a December 31 year end and each company issued bonds with a face value of $100.000 that pay interest annually on December 31. Bonita Limited sold its bonds at 100 and offered a coupon interest rate of 6%, while Coronado Corp. sold its bonds at 93 and offered a coupon interest rate of 4%, and Sunland Inc. sold its bonds at 105 and offered a 8% coupon interest rate. Prepare the entry that each company would record for the payment of interest on December 31, 2021. (Round answers to O decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 13M

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