Harry Gryffindor is the sole shareholder of Harry's Pottery, a wholesale/retail pottery and sculpture shop located in Hogwarts Station, MD. On January 1, 20x7, Harry issues 5-year, 10%, bonds with a par value of $100,000 and semiannual interest payments. Using the amortization table provided below, prepare the appropriate journal entries to record: 1. The issuance of the bonds on January 1, 20x7, 2. The first interest payment on June 30, and 3. The second interest payment and December 31. Semiannual Period-End (0) (1) June 30, first payment (2) December 31, second payment January 1, issuance View transaction list Journal entry worksheet 2 3 Record the Issuance of the bonds. Date January 01 Note: Enter debits before credits. Unamortized Discount General Journal $8,500 7,650 6,000 Debit Carrying Value $91,500 92,350 93,200 Credit

Harry Gryffindor is the sole shareholder of Harry's Pottery, a wholesale/retail pottery and sculpture shop located in Hogwarts Station, MD. On January 1, 20x7, Harry issues 5-year, 10%, bonds with a par value of $100,000 and semiannual interest payments. Using the amortization table provided below, prepare the appropriate journal entries to record: 1. The issuance of the bonds on January 1, 20x7, 2. The first interest payment on June 30, and 3. The second interest payment and December 31. Semiannual Period-End (0) (1) June 30, first payment (2) December 31, second payment January 1, issuance View transaction list Journal entry worksheet 2 3 Record the Issuance of the bonds. Date January 01 Note: Enter debits before credits. Unamortized Discount General Journal $8,500 7,650 6,000 Debit Carrying Value $91,500 92,350 93,200 Credit

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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