On January 1, 2024, Splash City issues $380,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $414,946. rcise 9-12 (Algo) Part 2 cord the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, -. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Exercise 9-12 (Algo) Record bonds issued at a premium and related semiannual interest (LO9-5)
[The following information applies to the questions displayed below.]
On January 1, 2024, Splash City issues $380,000 of 8% bonds, due in 15 years, with interest payable semiannually on
June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 7%, the bonds will issue at $414,946.
Exercise 9-12 (Algo) Part 2
2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31,
2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your final answers to the nearest whole dollar.)
View transaction list
<
Journal entry worksheet
1
2
3
Record the bond issue.
Note: Enter debits before credits.
Date
January 01, 2024
General Journal
< Prev
►
Debit
S
Credit
5 of 6
==
>
Next >
Transcribed Image Text:Required information Exercise 9-12 (Algo) Record bonds issued at a premium and related semiannual interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $380,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $414,946. Exercise 9-12 (Algo) Part 2 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list < Journal entry worksheet 1 2 3 Record the bond issue. Note: Enter debits before credits. Date January 01, 2024 General Journal < Prev ► Debit S Credit 5 of 6 == > Next >
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