Problem 9-48 Part 2 2. If the market interest rate is 8%, the bonds will issue at $1,687,008. 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. Round your answers to the nearest dollar amount.) No 1 [The following information applies to the questions displayed below] Viking Voyager specializes in the design and production of replica Viking boats. On January 1, 2021, the company issues $1,810,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. 2 3 Date January 01, 2021 Cash June 30, 2021 Answer is not complete. General Journal Discount on Bonds Payable Bonds Payable Interest Expense Discount on Bonds Payable Cash December 31, 202 Interest Expense Discount on Bonds Payable Cash 000 000 000 Debit 1,687,00 122.992 67,480 Credit 1,810,000 4,130 63,350 63,350

Problem 9-48 Part 2 2. If the market interest rate is 8%, the bonds will issue at $1,687,008. 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. Round your answers to the nearest dollar amount.) No 1 [The following information applies to the questions displayed below] Viking Voyager specializes in the design and production of replica Viking boats. On January 1, 2021, the company issues $1,810,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. 2 3 Date January 01, 2021 Cash June 30, 2021 Answer is not complete. General Journal Discount on Bonds Payable Bonds Payable Interest Expense Discount on Bonds Payable Cash December 31, 202 Interest Expense Discount on Bonds Payable Cash 000 000 000 Debit 1,687,00 122.992 67,480 Credit 1,810,000 4,130 63,350 63,350

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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