Please find below Amortization schedule for 10 years: Journal Entry follows below the table:
Journal Entries:
1-Jan-2021 Dr. Bank a/c $ 61,310
Dr. Bond Discount a/c $ 4,690
Cr. Bond Payable $ 66,000
( To Record Bond issued at discount)
30-Jun-2021 Dr. Interest Expense a/c $ 2,146
Cr. Bond Discount a/c $ 166
Cr. Bank a/c $ 1,980
(To record first interest payment)
Check m Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $66,000 for $61,310...
2. Record the first interest payment. Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $58,000 for $62,521 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31. 2.5 points Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in...
Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $51,000 for $46,591 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermed iate...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $68,000 for $68,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal...
Check my work Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $55,000 for $55,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid annually on December 31. points 8 00:49:51 Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View...
Pretzelmania, Inc., Issues 5%, 10 year bonds with a face amount of $56.000 for $56,000 on January 1, 2021 The market interest rate for bonds of similar risk and maturity is 5% Interest is paid semiannually on June 30 and December 31 Required: 1.8 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select No Journal Entry Required in the first account field.) View fractionat Journal entry...
Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $52,000 for $48,305 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations...
Pretzelmania, Inc., Issues 6%, 10-year bonds with a face amount of $60,000 for $64.677 on January 1, 2021. The market Interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first Interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Round your Intermediate computations and final...
Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $57,000 for $57,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record...
Pretzelmania, Inc., issues 5%, 10-year bonds with a face amount of $53,000 for $53,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid annually on December 31. Required: 1. & 2. Record the bond issue and first interest payment on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1...
Pretzelmania, Inc., issues 5%, 20-year bonds with a face amount of $53,000 for $46,875 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations...