On 1/1/20, Bond Co issued 6,000 units of its $1,000 10-year 11% bonds. The bonds pay interest semi-annually, on 1/1 and 7/1, and at the date of issuance the market rate was 12%. INSTRUCTIONS: SHOW ALL CALCULATIONS D. Prepare the journal entries to record the 2020 interest payment and year-end accrual E. Prepare the journal entry to record the retirement of the bond at maturity F. Assume INSTEAD that the bonds were redeemed after 3 years @ 101, prepare the journal entry to record the redemption. prepare the journal entry to record the early redemption of the bonds @ 105

Q: On January 1, 2020, the Rangler Company issued $600,000 of eight-year bonds at 102. The stated…

A: Cash(600000*102/100) Dr $612000 Bond payable  Cr                      $600000 Premium on issue   Cr.…

Q: On January 1, 2021, Bradley Recreational Products issued $100,000, 9%, four-year bonds. Interest is…

A: As you posted multiple sub parts in questions we are answering first three sub parts only kindly…

Q: On January 1, 2024, Reyes Recreational Products issued $150,000, 9%, four-year bonds. Interest is…

A: The objective of the question is to prepare an amortization schedule using the effective interest…

Q: On January 1st, 2020, Clem Company issued $300,000 of 10-year, 6% bonds on January 1, 2018. The…

A: Journal entries refers to the process of systematic documentation of the financial transactions of a…

Q: Sweetwood Company issues $5,000,000, 10-year, 9% bonds at 96, with interest payable annually on…

A: Bonds are instrument issued by company acknowledging the debt raised by company . It is a liability…

Q: On October 1, 2021, Pronghorn Corp. issued $864,000, 8%, 10-year bonds at face value. The bonds were…

A: Bonds are issued at a face value of $864,000.

Q: On January 1, 2024, Reyes Recreational Products issued $125,000, 10%, four-year bonds. Interest is…

A: As per the Honor code of Bartleby we are bound to give the answer of first three sub part only,…

Q: issued $630,000, 9%, 5-year bonds at face value.

A: Journal entries refers to the act of making transactions in the form of either economic or…

Q: Metlock, Inc. issued $282,000, 7%, 15-year bonds on December 31, 2021, for $253,800. Interest is…

A: Total discount on bonds = Face value of bonds - issue value of bonds = 282000-253800 = $28,200

Q: Prepare journal entries for the following transactions.

A: Journal entries refers to the official book of a company which is used to record the day to day…

Q: As a long-term investment, Camex Inc. paid $800,000 (par value) for Simple Bank bonds. The bonds pay…

A: A journal entry is the recording of financial transactions of business entity in the books of…

Q: 2 January 2018, MAYA Bhd issued RM1,500,000 of 10% bond at 106.231 with market interest 11% due 31…

A: Bonds are the securities issued by a business entity in order to raise funds for its business…

Q: Volunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July…

A: Annual interest payment = Face value of bonds x rate of interest x 1 years = $500000 x 10% x 1 =…

Q: On June 30, 2020, the market interest rate is 6%. Burnaby Enterprises issues $525,000 of 7%, 17-year…

A: Bond carrying amount is calculated by adding the premium account balance in the previous carrying…

Q: On January 1, 2018, Bradley Recreational Products issued $100,000, 9%, four-year bonds. Interest is…

A: 1. Prepare the amortization schedule to determine the interest expenses at effective interest rate…

Q: National Orthopedics Co. issued 9% bonds, dated January 1, with a face amount of $500,000 on January…

A: As posted multiple sub parts in questions we are answering only first 3 sub parts kindly repost the…

Q: Laudie Company issued $400,000 of 5%, 10-year bonds on January 1, 2020, at 94. Interest is payable…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: On January​ 1, 2018​,  Lane Unlimited issues 15​%, 10​-year bonds payable with a face value of…

A: 1) Premium on bonds payable = 1800 bonds * $5 = $9,000 It has to be amortised over the life of bonds…

Q: On August 1, 2022, Martinez Corp. issued $489,600, 6%, 10-year bonds at face value. Interest is…

A: When the bonds are issued then cash will receive so cash account would be debited and bond payable…

Q: On January​ 1, 2018​, Technicians Credit Union, ​(TCU​), issued 8%​, 20​-year bonds payable with a…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Prepare journal entries for the following transactions.

A: Bonds are issued by large organization to raise the fund. Bonds are considered as debt securities…

Q: On January 1, 2020, Cullumber Company issued $400,000, 10%, 10-year bonds at face value. Interest is…

A: Bonds- These are the debts of a company on which interest is payable after a fixed interval i.e.…

Q: On August 1, 2022, Martinez Corp. issued $489,600, 6%, 10-year bonds at face value. Interest is…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: On August 1, 2022, Bridgeport Corp. issued $483,600, 7%, 10-year bonds at face value. Interest is…

A: given that, Bridgeport Corp. issued bonds worth $483600 Rate of interest = 7% life of bond = 10…

Q: National Orthopedics Co. issued 9% bonds, dated January 1, with a face amount of $500,000 on January…

A: 1.

Q: Prepare journal entries for the following transactions.

A: Bonds are debt instruments issued by corporations, governments, or other organizations to raise…

Q: Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January…

A: Bonds are instrument issued by company acknowledging the debt raised by company . It is a liability…

Q: On January 1, 2020, Sheridan Company issued $351,500, 6%, 5-year bonds at face value. Interest is…

A: Interest expense = Par value of bonds x Interest rate = $351,500 x 6% = $21,090

Q: On December 31, 2018, Blue Devil Inc. issued $600,000 of 15-year, ten percent bonds payable for…

A: Bond financing is an instrument for borrowing the funds. The borrower has to pay a fix amount of…

Q: A. July 1, 2020: entry to record issuing the bonds. B. June 30, 2021: entry to record payment of…

A: A journal entry is a basic accounting record that is used to chronologically track financial…

Q: On January 1, 2021, Bradley Recreational Products issued $100,000, 9%, four year bonds. Interest…

A: Concept Given Date of issue January 1 2021 Face value 100000 Coupon rate 9%…

Q: On January 1, 2023, Kristopher Co. issued ten-year bonds with a face value of $7,000,000 and a…

A: A bond is a financial instrument or debt security that is used to symbolize a loan that an investor…

Q: On January 1, 2022, Johnson Company issues $100,000 face amount bonds. These bonds pay 7% APR…

A: Given details Face value of bonds = $100,000 Semiannual Interest rate = 7%/2 = 3.5% Semiannual…

Q: On January​ 1,2018​, Technicians Credit Union, ​(TCU​), issued 8%​, 20​-year bonds payable with face…

A: Premium on bonds payable = 900,000 * 8% = $72,000 Premium on bonds payable on June​ 30, 2018…