On January 1, 2021, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the market interest rate on the issue date is 9%, the bonds will issue at $370,000. Record the bond issue on January 1, 2021, and the first two semiannual 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.) View transaction list Journal entry worksheet 1 3. <> Record the first semiannual interest payment. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2021
On January 1, 2021, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the market interest rate on the issue date is 9%, the bonds will issue at $370,000. Record the bond issue on January 1, 2021, and the first two semiannual 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.) View transaction list Journal entry worksheet 1 3. <> Record the first semiannual interest payment. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On January 1, 2021, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and
December 31 each year.
Required:
Assuming the market interest rate on the issue date is 9%, the bonds will issue at $370,000. Record the bond issue on January 1, 2021,
and the first two semiannual 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.)
View transaction list
Journal entry worksheet
1
3
Record the first semiannual interest payment.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
June 30, 2021
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