On April 1, Year 1, Brandi Corporation issued $20,000,000 of 5-year, 9% bonds at a market interest rate of 8%, receiving cash of $20,811;010. Interest is payable semiannually on April 1 and October 1. Journalize the entries to record the following: a. Issuance of the bonds on April 1, Year 1 b. First interest payment on October 1, Year 1, and the amortization of bond premium for 2 months, using the straight-line method.

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Q: Trog Industries pays and records the semiannual interest on its $520,000, 10-year, 6% bonds…

A: Here in this question, we are required to make journal entry for interest payment and discount…

Q: On June 30, Jamison Company issued $2,500,000 of 10-year, 9% bonds, dated June 30, for $2,580,000.…

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Q: Issuance of the bond  First annual interest payment (record as separate entry from premium…

A: Working: Premium on Bonds Payable = Issue price of bonds - Face value of bonds = $2,125,000…

Q: On the first day of the fiscal year, a company issues a $2,750,000, 8%, 5-year bond that pays…

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Q: The Golden Company issues $518,000 of 12%, 10-year bonds at 103 on March 31, 2025. The bonds pay…

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Q: An entity issued ten-year P1,000,000 debenture bonds at the beginning of the current year. The bonds…

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Q: The Levi Company issued $80,000 of 6% bonds on January 1 of the current year at face value. The…

A: Lets understand the basics. When bond is issued at face value then for calculating interest expense,…

Q: The Levi Company issued $96,000 of 6% bonds on January 1 of the current year at face value. The…

A: Interest expense refers to the costs incurred in respect to the loans, bonds and other debts…

Q: On January 1, $925,000, 5-year, 10% bonds, were issued for $897,250. Interest is paid semiannually…

A:

Q: On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable…

A: The bonds are the financial instruments that are used to raise money from the market or investors.

Q: Keaubie Co. issued $250,000, 6%, 10-year bonds payable at a price of 102, on Jan. 1a.Journalize the…

A: A bond is one of the sources of debt financing that is generally issued by companies in order to…

Q: On January 1, $904,000, 5-year, 10% bonds, were issued for $876,880. Interest is paid semiannually…

A: SOLUTION- Semiannual Amortization Amount= 904000 * 10% * 6/12= 45200

Q: On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays…

A: Total premium on bonds = Total amount received - Face value of bonds = $520000 - $500000 = $20,000

Q: On the first day of the current fiscal year, $2,000,000 of 10-year, 6% bonds, with interest payable…

A: Given: Value of the bond = $ 2,000,000 Bond rate = 6 % Price of the bond = $ 2,125,000

Q: Fireside, Inc. had the following bond issue: Date of issue/sale May 1, 20-A Principal amount:…

A: Journal entry is a record of financial transaction in the books of accounts maintained by an…

Q: Franklin corporation issues $81,000, 8%, 5-year bonds on January 1, for $84,650. Interest is paid…

A: BOND IS A SECURITY UNDER WHICH THE DEBT PRINCIPAL AMOUNT IS REPAID ALONG WITH INTEREST OVER A…

Q: On September 30, Jose’s Jalapenos Inc., issued $1,000,000 of 10-year 9% bonds sated September 30,…

A: Journal entries are prepared to record the financial and non financial transactions of the business.

Q: On the first day of the current fiscal year, $2,000,000 of 10-year, 6% bonds, with interest payable…

A: Given: Value of the bond = $ 2,000,000 Bond rate = 6 % Price of the bond = $ 2,125,000

Q: On the first day of the fiscal year, a company issues an $2,250,000, 12%, five-year bond that pays…

A: Premium on issue of bonds = Cash received - Par value of bonds = $2,379,360 - $2,250,000 = $129,360

Q: On the first day of the fiscal year, a company issues a $888,000, 6%, 10-year bond that pays…

A:

Q: On the first day of its fiscal year, Ebert Company issued $12,500,000 of 10-year, 7% bonds to…

A: Bonds: Bonds are long-term promissory notes that are represented by a company while borrowing money…

Q: On June 30, Jamison Company issued $2,500,000 of 10-year, 9% bonds, dated June 30, for $2,580,000.…

A: Given: Value of the bond = $ 2,500,000 Bond rate = 9 % Price of the bond = $ 2,580,000

Q: On January 1, Year 1, Bell Corporation issued $203,000 of 10-year, 6 percent bonds at their face…

A: Introduction:- A journal entry is the act of recording or keeping track of any financial or…

Q: Diaz Company issued bonds with a face value of $127,000 on January 1, Year 1. The bonds had a stated…

A: As you have asked multiple sub-parts we can solve only first three sub-parts for you please repost…

Q: On January 1, Year 1, Hackman Corporation issued $600,000 face value 6% bonds dated January 1, Year…

A: The objective of the question is to record the issuance of the bonds and the first two interest…

Q: On January 1, $2,000,000, 5-year, 10% bonds, were issued for $1,960,000. Interest is paid…

A: Bond is a financial instrument used by financial institutions to raise funds. It is a security for…

Q: rnalize the entry to record the amount of rnalize the entries to record the following The first…

A: The answers have been mentioned below.

Q: Franklin corporation issues $84,000, 8%, 5-year bonds on January 1, for $87,780. Interest is paid…

A: Proceed from issuance of bonds $87,780Less: Face value of bonds $84,000Premium on bonds payable…

Q: On July 1, Year 1, Khatri Industries Inc. issued $18,000,000 of 10-year, 5% bonds at a market…

A: Introduction Bonds issued with discount: Bonds are financial instrument which represents company’s…