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On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968 Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Interest Cash Paid Carrying Value Date Expense 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 1 3 Record the bond issue on January 1, 2021 Note: Enter debits before credits.

On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968 Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Interest Cash Paid Carrying Value Date Expense 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 1 3 Record the bond issue on January 1, 2021 Note: Enter debits before credits.

FINANCIAL ACCOUNTING
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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On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968 Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Interest Cash Paid Carrying Value Date Expense 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 1 3 Record the bond issue on January 1, 2021 Note: Enter debits before credits.
Transcribed Image Text:On January 1, 2021, a company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968 Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Interest Cash Paid Carrying Value Date Expense 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 1 3 Record the bond issue on January 1, 2021 Note: Enter debits before credits.
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