On January​ 1, 2024​, Aaron Unlimited issues 10​%, 20​-year bonds payable with a face value of $180,000. The bonds are issued at 102 and pay interest on June 30 and December 31. ​(Assume bonds payable are amortized using the​ straight-line amortization​ method.)   1. Journalize the issuance of the bonds on January​ 1, 2024. 2. Journalize the semiannual interest payment and amortization of bond premium on June​ 30, 2024. 3. Journalize the semiannual interest payment and amortization of bond premium on December​ 31, 2024. 4. Journalize the retirement of the bond at​ maturity, assuming the last interest payment has already been recorded.​ (Give the​ date.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On January​ 1,
2024​,
Aaron
Unlimited issues
10​%,
20​-year
bonds payable with a face value of
$180,000.
The bonds are issued at
102
and pay interest on June 30 and December 31. ​(Assume bonds payable are amortized using the​ straight-line amortization​ method.)
 
1.
Journalize the issuance of the bonds on January​ 1,
2024.
2.
Journalize the semiannual interest payment and amortization of bond premium on June​ 30,
2024.
3.
Journalize the semiannual interest payment and amortization of bond premium on December​ 31,
2024.
4.
Journalize the retirement of the bond at​ maturity, assuming the last interest payment has already been recorded.​ (Give the​ date.

 
 
Requirement 1. Journalize the issuance of the bonds on January​ 1,
2024
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