need answer second and third part please provide correct and complete answer with compulsory explanation , calculation for each part ,steps clearly answer in text from remember each part and calculation should have explanation and show working for each calculation NEED ANSWER FOR ALL REQUIREMENT OR SKIP ATTEMPT If YOU CAN GIVE COMPLETE AND CORRECT ANSWER AND 100% SURE downvote if incorrect or incomplete On Jan 1, 2020, Pip's Puppy Company Issues a $700,000 Face Value Bond Payable. The Bond is for 10 years andpays 8% interest annually on Dec 31st of each year.Problem I:Record the Issuance of the Bond Payable on 1/1/20. Assuming the Price is = 100% of Face ValueRecord the annual interest payment for both Dec 31st 2020 & 2021Record the Maturity of the Bond on Jan 1 2030Problem II:Assume the Bond is issued at 92% of Face Value:Record the issuance on the Bond Payable on Jan 1, 2020Record the annual Interest entry for Dec 31st for both 2020 & 2021Record the Maturity of the Bond on Jan 1, 2030Problem III:Assume the Bond Payable is Issued at 106% of Face ValueRecord the Issuance of the Bond on Jan 1, 2020Record the annual interest payment on Dec 31st 2020 & 2021Record the Maturity Date of the Bond on Jan 1st 2030

Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…

Answered: On Jan 1, 2020, Pip's Puppy Company…

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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need answer second and third part please provide correct and complete answer with compulsory explanation , calculation for each part ,steps clearly answer in text from remember each part and calculation should have explanation and show working for each calculation NEED ANSWER FOR ALL REQUIREMENT OR SKIP ATTEMPT If YOU CAN GIVE COMPLETE AND CORRECT ANSWER AND 100% SURE downvote if incorrect or incomplete

On Jan 1, 2020, Pip's Puppy Company Issues a $700,000 Face Value Bond Payable. The Bond is for 10 years and
pays 8% interest annually on Dec 31st of each year.
Problem I:
Record the Issuance of the Bond Payable on 1/1/20
. Assuming the Price is = 100% of Face Value
Record the annual interest payment for both Dec 31st 2020 & 2021
Record the Maturity of the Bond on Jan 1 2030
Problem II:
Assume the Bond is issued at 92% of Face Value:
Record the issuance on the Bond Payable on Jan 1, 2020
Record the annual Interest entry for Dec 31st for both 2020 & 2021
Record the Maturity of the Bond on Jan 1, 2030
Problem III:
Assume the Bond Payable is Issued at 106% of Face Value
Record the Issuance of the Bond on Jan 1, 2020
Record the annual interest payment on Dec 31st 2020 & 2021
Record the Maturity Date of the Bond on Jan 1st 2030

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