On January 1, the first day of the fiscal year, a company issues a $550,000, 8%, 10-year bond that pays semiannual interest of $22,000 ($550,000 × 8% × ½ year), receiving cash of $550,000. (a)  Journalize the entry to record the issuance of the bonds.     fill in the blank 8dfaac02b05b066_2         fill in the blank 8dfaac02b05b066_4 (b)  Journalize the entry to record the first interest payment on June 30.     fill in the blank efa8e4f6603d061_2         fill in the blank efa8e4f6603d061_4 (c)  Journalize the entry to record the payment of the principal on the maturity date.     fill in the blank 71e811068fc505d_2         fill in the blank 71e811068fc505d_4

Q: Bramble Corp. issued 3,400 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest…

A: Given:

Q: Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $7,800,000, 8%,…

A: Discount = Face value - Cash Discount = $7,800,000 - $6,791,633 Discount = $1,008,367

Q: On the first day of the current fiscal year, $1,500,000 of 8%, 10-year bonds, with interest payable…

A: Journal entries are the initial reporting of the transactions in the books of an entity.

Q: On January 1, 200C, the Gabriella Corporation issued $800,000, 8%, 10-year bonds at 98. Interest is…

A: working note: 1.The straight-line amortization of an Discount on bond payable will be $1600 ($16000…

Q: Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $8,800,000, 6%,…

A: Bonds Payable: Bonds payable are referred to long-term debts of the business, issued to various…

Q: Issuing Bonds at a Face Amount On January 1, the first day of the fiscal year, a company issues a…

A: Journal Entry:   Journal entry has two effects for every transaction. The journal entry is passed by…

Q: On the first day of the fiscal year, a company issues a $2,800,000, 8%, 8-year bond that pays…

A: The bonds are the financial instruments used to raise the money from the investors.

Q: On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $950,000, 8%, 10-year…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $4,500,000,…

A: Bonds: To raise the funds and finance the operations of the company, money is borrowed from the…

Q: On the first day of the fiscal year, a company issues a $326,000, 6%, 10-year bond that pays…

A: BOND IS AN INSTRUMENT OF INDEBTEDNESS OF THE BOND ISSUER TO THE HOLDER .

Q: Journalize the first interest payment and the amortization of the related bond discount. Round to…

A: A bond is said to be issued at a discount when the buyer pays an amount which is less than the par…

Q: Grayco issued $2,000,000 of 10 year, 6% bonds on March 1 of the current year at face value, with…

A: SOlution: Date Particulars Debit Credit 01-Mar Cash 2000000           To bonds payable…

Q: Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc.…

A: Journal entries are prepared to record the financial and non financial transactions of the business…

Q: On the first day of the fiscal year, a company issues a $616,000, 8%, 10-year bond that pays…

A: Cash interest = $24,640 Face value = $616,000Issue Price = $646,800Premium on issue of bond =…

Q: On the first day of the fiscal year, a company issues a $8,000,000, 9%, 10-year bond that pays…

A: Bonds are kinds of loan with regular interest payment and mature after certain period  of times.

Q: the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays semiannual…

A: Bond payable is financial instrument which is used to raise funds for financial obligations. These…

Q: The first day of the fiscal year, a company issues a $700,000, 6%, 10-year bond that pays semiannual…

A: Bonds are issued by the company because it is it cheaper source of finance. It is because tax…

Q: Prepare the entry to record the issuance of the bond and the first payment.

A: Amount of Interest = (Number of bonds issued × Par value × Interest rate)/2 = (1000 × $100 × 5%)/2 =…

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A: Bonds is a long-term debts issued by the government and companies to raise funds for their…

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A: Bond: It is  long-term financial instrument issued by a company. Interest is paid to bond holders…

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A: Lets understand the basics.Journal entry is required to make to record event and transaction that…

Q: Issuing Bonds at Face Amount On January 1, the first day of the fiscal year, Designer Fabric Inc.…

A: Journal entries are used to record entries in chronological order for a business.

Q: Issuing Bonds at a Discount On January 1, the first day of the fiscal year, a company issues a…

A: Journal entry is a process of recording business transactions in the books of accounts for the first…

Q: QUESTION 7 On the first day of the fiscal year, a company issues a $960,000, 8%, 5-year bond that…

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Q: On the first day of the fiscal year, a company issues a $5,100,000, 9%, 4-year bond that pays…

A: Bonds issued at discount: A bond said to be issued at discount when its issue price is less than…

Q: On January 1, the first day of the fiscal year, a company issues a $250,000, 10%, 10-year bond that…

A: SOLUTION- BOND-  A Bond is a fixed income instrument  that represent a loan  made by the investor to…

Q: Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a.$4,200,000, 10%,…

A: Bonds are issued by the companies to get the financial resources for working. It is a cheaper source…

Q: Instructions On January 1, the first day of the fiscal year, a company issues a $2,050,000, 9% ,…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: (The following information applies to the questions displayed below.] The Square Foot Grill,…

A: Journal Entry: A record of a financial transaction that includes the debits and credits to the…

Q: On the first day of the fiscal year, a company issues a $3,000,000, 11%, five-year bond that pays…

A: Bonds: Bonds are financial debt instruments issued by the corporations to raise for the purposes of…

Q: On the first day of the fiscal year, a company issues a $8,700,000, 6%, 6-year bond that pays…

A: Bonds Payable is a long-term liabilities issued by the borrower. This document carries a fixed term…

Q: On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $750,000, 6%, 10-year…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: On the first day of the fiscal year, a company issues an $800,000, 6%, 5-year bond that pays…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: On the first day of the fiscal year, a company issues a $4,000,000, 9%, 10-year bond that pays…

A: Bonds :Bonds is a long-term debts issued by the government and companies to raise funds for their…

Q: X Corporation borrowed money by issuing $1,000,000 of bonds at 102 on January 1, 2022. The bonds pay…

A: DateAccountDebitCreditJanuary 1, 2022Cash ($1,000,000 * 102%)$ 1,020,000            Bonds Payable $…

Q: On January 1, the first day of the fiscal year, a company issues a $1,800,000, 4% , five-year bond…

A: When the issue price of the bonds is more than the face value of the bonds the bonds are issued at…

Q: Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $8,200,000, 9%,…

A: Bonds are considered a financial instrument used to raise finance for the organization. It is also…

Q: On the first day of the fiscal year, a company issues a $8,400,000, 12%, 8-year bond that pays…

A: Premium on bonds Payable = Issue price - Face value of bonds = $8,839,411 - $8,400,000 = $439,411

Q: On the first day of the fiscal year, a company issues a $6,800,000, 8%, 10-year bond that pays…

A: Bonds are the instruments that are being issued for the purpose of raising finance. These are the…

Q: On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $250,000, 10%, 10-year…

A: A bond is a liability on which a specific percentage of interest has to be paid over the maturity of…

Q: On the first day of the fiscal year, a company issues a $3,900,000, 8%, 7-year bond that pays…

A: Bonds :Bonds is a long-term debts issued by the government and companies to raise funds for their…

Q: Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,400,000, 6%,…

A: The bonds are the Financial instruments that are issued to raise the money from the market or…

Q: ssuing Bonds at a Discount On the first day of the fiscal year, a company issues a $8,700,000, 9%,…

A: