Requlred Information [The following information applies to the questions displayed below.] Alaskan Frontier provides rail and bus tours of Alaska. Alaska Frontier issues $400.000 of 8% bonds on January 1, 2021 to finance operations. The bonds are 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 9%, the bonds will issue at $367,422 L Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 021. (If no entry Is requlred for a particular transaction/event, select "No Journal Entry Required" In the first account fleld. Round our Intermedlate and final answers to the nearest whole dollar.)
Requlred Information [The following information applies to the questions displayed below.] Alaskan Frontier provides rail and bus tours of Alaska. Alaska Frontier issues $400.000 of 8% bonds on January 1, 2021 to finance operations. The bonds are 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 9%, the bonds will issue at $367,422 L Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 021. (If no entry Is requlred for a particular transaction/event, select "No Journal Entry Required" In the first account fleld. Round our Intermedlate and final answers to the nearest whole dollar.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
1. Record the bond issue. (Jan. 01, 2021)
2. Record the first semiannual interest payment. (June 30, 2021).
3. Record the second semiannual interest payment. (Dec. 31, 2021)
![Requlred Informatlon
[The following information applies to the questions displayed below.]
Alaskan Frontier provides rail and bus tours of Alaska. Alaska Frontier issues $400,000 of 8% bonds on January 1, 2021
to finance operations. The bonds are 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 9%, the bonds will issue at $367,422
2. 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 requlred for a particular transaction/event, select "No Journal Entry Requlred" In the first account fleld. Round
your Intermedlate and final answers to the nearest whole dollar.)
View transaction list
Journal entry worksheet
2 3
Record the bond issue.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
January 01, 2021](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4c03d17e-03c0-44bf-860a-ef4a718bf31e%2F3276c1cd-ef52-4113-ab6e-4cadedeb7ea8%2Femhaxp8_processed.png&w=3840&q=75)
Transcribed Image Text:Requlred Informatlon
[The following information applies to the questions displayed below.]
Alaskan Frontier provides rail and bus tours of Alaska. Alaska Frontier issues $400,000 of 8% bonds on January 1, 2021
to finance operations. The bonds are 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 9%, the bonds will issue at $367,422
2. 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 requlred for a particular transaction/event, select "No Journal Entry Requlred" In the first account fleld. Round
your Intermedlate and final answers to the nearest whole dollar.)
View transaction list
Journal entry worksheet
2 3
Record the bond issue.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
January 01, 2021
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