On January 1, 2018, Western Services issued $20,000 of 8% bonds that mature in five years. The bonds were issued for $20,750. Prepare the journal entry to issue bonds. Omit explanation.
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On January 1, 2018, Western Services issued $20,000 of 8% bonds that mature in five years. The bonds were issued for $20,750. Prepare the
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- 5. On December 31, 2018, the balance sheet of Alphabet Corporation reported bonds outstanding with a face value of $6,000,000 and a related unamortized premium of $180,000. Interest is payable semiannually on January 1 and July 1. Prepare an entry in journal form without explanation on January 1, 2018, to record the conversion of bonds with a face value of $2,400,000 into common stock. Each $1,000 bond is convertible into 30 shares of $20 par value common stock. (6]On January 1, 2022, Ivanhoe Company issued $425,000, 12%, 10-year bonds at face value. Interest is payable annually on January 1. (a) Your answer is partially correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, Cash 51000 2022 Bonds Payable 51000On January 1, 2018, Educators Credit Union issued 7%, 20-year bonds payable with a face value of $100,000. The bonds pay interest on June 30 and December 31. How do I Journalize the payment of interest and amortization on June 30, 2018.?
- Riverbed Company issued $2,690,000, 9%, 20-year bonds on January 1, 2020, at 105. Interest is payable annually on January 1. Riverbed uses straight-line amortization for bond premium or discount. Prepare the journal entries to record the following events. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) The issuance of the bonds. (b) The accrual of interest and the premium amortization on December 31, 2020. (c) The payment of interest on January 1, 2021. (d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. Date Account Titles and Explanation Debit Credit > >Carla Vista Co. issued $475,000, 15-year, 5% bonds at 96. Prepare the journal entry to record the sale of these bonds on January 1, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 1 Cash Bonds Payable Premium on Bonds Payable Textbook and Media Debit Credit 475000Carla Corporation issued $396,000 of 7% bonds on May 1, 2025. The bonds were dated January 1, 2025, and mature January 1, 2028, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Carla's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries) No. (a) (b) (c) Date May 1, 2025 Dec 31, 2025 July 1, 2025 Account Titles and Explanation Debit Credit SUPPO
- Pretzelmania, Incorporated, issues 7%, 10-year bonds with a face amount of $61,000 for $61,000 on January 1, 2024. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)On January 1, Year 1, Price Company issued $291,000 of five-year, 5 percent bonds at 98. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the entry for issuance of bonds. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journalPretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $70,000 for $63,948 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations and final answers to the nearest whole dollar amount.)
- Crane Company issued $740,000, 10-year, 5% bonds at 103. Prepare the journal entry to record the sale of these bonds on January 1, 2022. Date Account Titles and Explanation Debit Credit Jan. 1 enter an account title to record the sale of these bonds on January 1, 2017enter an account title to record the sale of these bonds on January 1, 2017Pina Colada Corp. issues $2.80 million, 10-year, 6% bonds at 98, with interest payable each January 1. (a) Assuming instead that the above bonds sold for 102, prepare the journal entry to record the sale of these bonds on January 1. 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan, 1 Cash Bonds Payable Premium on Bonds Payable Debit CreditCarla Vista Corporation issued 2,800, 6%, 5-year, $1,000 bonds dated January 1, 2022, at 100. Interest is paid each January 1.(a)Prepare the journal entry to record the sale of these bonds on January 1, 2022. (b)Prepare the adjusting journal entry on December 31, 2022, to record interest expense (c)