Required information Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $338,257. Exercise 9-11 (Algo) Part 2 Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Roun our intermediate and final answers to the nearest whole dollar.)
Required information Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $338,257. Exercise 9-11 (Algo) Part 2 Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Roun our intermediate and final answers to the nearest whole dollar.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5)
[The following information applies to the questions displayed below.]
On January 1, 2024, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on
June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 10%, the bonds will issue at $338,257.
Exercise 9-11 (Algo) Part 2
2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31,
2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your intermediate and final answers to the nearest whole dollar.)
View transaction list
Journal entry worksheet
1
2
3
Record the bond issue.
Note: Enter debits before credits.
Date
January 01, 2024
General Journal
Debit
Credit
>
< Prey
$ 00
S
of 14
H+
H+
Next](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54116caa-f22b-40fd-ac71-cd149350f749%2Fbb9c703a-453b-4078-9d02-49f47c430f65%2Fh866xk8_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5)
[The following information applies to the questions displayed below.]
On January 1, 2024, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on
June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 10%, the bonds will issue at $338,257.
Exercise 9-11 (Algo) Part 2
2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31,
2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your intermediate and final answers to the nearest whole dollar.)
View transaction list
Journal entry worksheet
1
2
3
Record the bond issue.
Note: Enter debits before credits.
Date
January 01, 2024
General Journal
Debit
Credit
>
< Prey
$ 00
S
of 14
H+
H+
Next
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