Record bond issue record the first semiannual interest payment record the second semiannual interest payment **Educational Website Content: Bond Issuance and Journal Entry**---**Required Information***The following information applies to the questions displayed below:*Viking Voyager is a company that specializes in the design and production of replica Viking boats. On January 1, 2021, the company issues $1,850,000 of 7% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year.**Required:**1. If the market interest rate is 7%, the bonds will issue at $1,850,000. 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.)**Journal Entry Worksheet:**- You are provided a section to record the bond issue and interest payments as journal entries. Page: 4 of 18---This content provides educational instructions for students to practice recording financial transactions related to bond issuance and interest payments using a journal entry worksheet. Students are expected to apply accounting principles to complete the tasks. The image displays a section of an educational interface related to financial accounting, specifically for recording bond issues.### Interface Overview:**1. Test Navigation:**- **Test #4 Ch 8 & 9:** Indicates this is part of a test or quiz related to chapters 8 and 9.- **Page 4 of 18:** The user is on question 4 of a total of 18 questions.- **Part 1 of 3:** This is the first part of a multi-part question.**2. Instructions:**- **"Record the bond issue."** Prompt to make a journal entry for a bond issue.**3. Timer:**- **00:39:44:** Displays the time spent on the test or question.**4. Journal Entry Table:**- A table is provided for entering the bond issue details, with columns for: - **Date:** Example entry is "January 01, 2021." - **General Journal:** For writing account names or descriptions. - **Debit:** For debiting money amounts. - **Credit:** For crediting money amounts.**5. Action Buttons:**- **Record entry:** Saves the journal entry.- **Clear entry:** Clears the current entry.- **View general journal:** Allows viewing all journal entries made so far.**6. Additional Information:**- A note: "Enter debits before credits" emphasizes the correct order for entry.This digital interface assists students in practicing financial accounting tasks by simulating the process of recording financial transactions in the form of journal entries.

Journal entry is the book of original entry in which all the transactions of the business are…

Answered: Record bond issue record the first…

Business

Accounting

Record bond issue record the first semiannual interest payment record the second semiannual interest payment

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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