Question

PLUS Weygandt, Financial Accounting, 10e udy & Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment Brief Exercise 10-12 OURCES 2019 Level Bramble Corp. has issued three different bonds during 2019. Interest is payable annually on each of these bonds. On January 1, 2019, 1,400, 7 % , 5-year, $1,000 bonds dated January 1, 2019, were issued at face value. On July 1, $794,000, 8 % , 5-year bonds dated July 1, 2019, were issued at 101. On September 1, $360,000, 6 %, 5-year bonds dated September 1, 2019, were issued at 97 1. 0-2 0-3 mission) 0-10 mission) 0-12 2. 3. Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically No. Date Account Titles and Explanation Debit Credit 1. y Study 2. 3. Sept. 1 SHOW LIST OF ACCOUNTS tI Privecy Policy I2000-2019 John Wiley & Sons. Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. MacBook Pro QSearch or type URL $ & 2 5 6 7 8 E R T Y U

please fill out the table. Also the list of accounts is provided in other pic

Answer 1

Journal entry to record each transaction is as shown below:

Year	Particulars	L.F	Debit ($)	Credit ($)
2019
Jan-01	Cash (1,400*1,000)		1,400,000
	Bond Payable			1,400,000
	(For bonds issued at face value)
Jul-01	Cash (794,000*101%)		801,940
	Premium on Bonds Payable			7,940
	Bond Payable			794,000
	(For bonds issued at premium)
Sep-01	Cash (360,000*97%)		349,200
	Discount on Bonds Payable		10,800
	Bond Payable			360,000
	(For bonds issued at discount)