Required information Exercise 9-11B Record bonds issued at a discount and related semiannual interest (LO9-6) (The following information applies to the questions displayed below.] On January 1, Year 1, a company issues $500,000 of 6% 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 7%, the bonds will issue at $446,611. ercise 9-11B Part 2 Record the bond issue on January 1. Year 1, and the first two semiannual interest payments on June 30, Year 1, and December 31,
Required information Exercise 9-11B Record bonds issued at a discount and related semiannual interest (LO9-6) (The following information applies to the questions displayed below.] On January 1, Year 1, a company issues $500,000 of 6% 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 7%, the bonds will issue at $446,611. ercise 9-11B Part 2 Record the bond issue on January 1. Year 1, and the first two semiannual interest payments on June 30, Year 1, and December 31,
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
Exercise 9-11B Record bonds issued at a discount and related semiannual interest (LO9-6)
[The following information applies to the questions displayed below]
On January 1, Year 1, a company issues $500,000 of 6% 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 7%, the bonds will issue at $446,611.
Exercise 9-11B Part 2
2. Record the bond issue on January 1, Year 1, and the first two semiannual interest payments on June 30, Year 1, and December 31,
Year 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your 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
General Journal
Debit
Credit
January 01
Cash
446,611
Discount on Bonds Payable
Bonds Payable
Record entry
Clear entry
View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa12fb698-86b8-4c36-a419-614cb17e4598%2Fa27aab2b-eaa4-401d-b74e-31b7c6b4655a%2Fcuz8qc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Exercise 9-11B Record bonds issued at a discount and related semiannual interest (LO9-6)
[The following information applies to the questions displayed below]
On January 1, Year 1, a company issues $500,000 of 6% 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 7%, the bonds will issue at $446,611.
Exercise 9-11B Part 2
2. Record the bond issue on January 1, Year 1, and the first two semiannual interest payments on June 30, Year 1, and December 31,
Year 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your 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
General Journal
Debit
Credit
January 01
Cash
446,611
Discount on Bonds Payable
Bonds Payable
Record entry
Clear entry
View general journal
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