Required information [The following information applies to the questions displayed below.] On January 1, 2024, White Water issues $400,000 of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $360,800. 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 final answers to the nearest whole dollar.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Required information
[The following information applies to the questions displayed below.]
On January 1, 2024, White Water issues $400,000 of 5% bonds, due in 15 years, with interest payable semiannually on
June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 6%, the bonds will issue at $360,800.
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 final answers to the nearest whole dollar.)
View transaction list
No
1
2
3
View journal entry worksheet
Date
January 01, 2024 Cash
June 30, 2024
December 31,
2024
Interest Expense
Cash
Interest Expense
Cash
General Journal
Debit
360,800
Credit
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] On January 1, 2024, White Water issues $400,000 of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $360,800. 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 final answers to the nearest whole dollar.) View transaction list No 1 2 3 View journal entry worksheet Date January 01, 2024 Cash June 30, 2024 December 31, 2024 Interest Expense Cash Interest Expense Cash General Journal Debit 360,800 Credit
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