ACCT 102 - Please do subparts A-E, thank you.Parts A-D are transactions recorded on a General Journal. SavedHelGreen Mountain Power Company obtained authorization to issue 20-year bonds with a face value of $10 million. The bonds are datedMay 1, 2021, and have a contract rate of interest of 10 percent. They pay interest on November 1 and May 1. The bonds were issued onAugust 1, 2021, at 100 plus three months' accrued interest.Required:Prepare the necessary journal entries in general journal form on the following.a. August 1, 2021, to record the issuance of the bonds.b. November 1, 2021, to record the first semiannual interest payment on the bond issue.c. December 31, 2021, to record interest expense accrued through year-end. (Round to the nearest dollar.)d. May 1, 2022, to record the second semiannual interest payment. (Round to the nearest dollar.)e. What was the prevailing market rate of interest on the date that the bonds were issued?(If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers tothe nearest dollar amount. Enter your answer in dollars not millions.)Complete this question by entering your answers in the tabs below.Req A to DReq EView transaction listJournal entry worksheet1.4Record the issuance of the bonds.Note: Enter debits before credits.DateGeneral JoumalDebitCreditAug 01, 20212. HelpGreen Mountain Power Company obtained authorization to issue 20-year bonds with a face value of $10 million. The bonds are datedMay 1, 2021, and have a contract rate of interest of 10 percent. They pay interest on November 1 and May 1. The bonds were issued onAugust 1, 2021, at 100 plus three months' accrued interest.Required:Prepare the necessary journal entries in general journal form on the following.a. August 1, 2021, to record the issuance of the bonds.b. November 1, 2021, to record the first semiannual interest payment on the bond issue.c. December 31, 2021, to record.interest expense accrued through year-end. (Round to the nearest dollar.)d. May 1, 2022, to record the second semiannual interest payment. (Round to the nearest dollar.)e. What was the prevailing market rate of interest on the date that the bonds were issued?(If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers tothe nearest dollar amount. Enter your answer in dollars not millions.)Complete this question by entering your answers in the tabs below.Req A to DReq EWhat was the prevailing market rate of interest on the date that the bonds were issued?%Prevailing market rate of interestReq E>< Req A to D

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Prepare the necessary journal entries in general journal form on the following. a. August 1, 2021, to record the issuance of the bonds. b. November 1, 2021, to record the first semiannual interest payment on the bond issue. c. December 31, 2021, to record interest expense accrued through year-end. (Round to the nearest dollar.) d. May 1, 2022, to record the second semiannual interest payment. (Round to the nearest dollar.) e What was the prevailin g market rate of intoroot

Prepare the necessary journal entries in general journal form on the following. a. August 1, 2021, to record the issuance of the bonds. b. November 1, 2021, to record the first semiannual interest payment on the bond issue. c. December 31, 2021, to record interest expense accrued through year-end. (Round to the nearest dollar.) d. May 1, 2022, to record the second semiannual interest payment. (Round to the nearest dollar.) e What was the prevailin g market rate of intoroot

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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