please i want the part two answered thank you Harvard Inc. issues $4 million, 5-year, 8%...

Question

Question

Harvard Inc. issues $4 million, 5-year, 8% bonds at 102, with interest payable on January 1. The straight-line method is used

Attempts: 1 of 5u Part 2 Your answer is partially correct. Prepare the journal entry to record interest expense and bond prem

please i want the part two answered thank you

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	Interest expense	$304,000
	Premium on bonds payable	$16,000
	Cash		320,000

Kindly comment if you need further assistance. Thanks

Add a comment

Answer 2

Similar Homework Help Questions

Harvard Inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on January 1. The straight-line method...

Harvard Inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2022, assuming...
Harvard Inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on January 1....

Harvard Inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash enter a debit amount Bonds Payable $4,000,000 Premium on Bonds Payable enter a credit amount Prepare...
Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1...

Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1 . The straight-line method is used to amortize bond premium Your answer is partially correct. Try again Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. D not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Debit Credit 38000000 Discount on Bonds Payable 2000000 Bonds Payable...

Sage Hill Inc. issues $3.4 million, 5-year, 6% bonds at 102, with interest payable on January...

Sage Hill Inc. issues $3.4 million, 5-year, 6% bonds at 102, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 2 Account Titles and Explanation Debit Credit Cash Bonds Payable Premium on Bonds Payable Prepare the journal entry to record interest expense and bond premium...
Brief Exercise 10-20 Metlock, Inc. issues $2.10 million, 5-year, 11% bonds at 104, with interest payable...

Brief Exercise 10-20 Metlock, Inc. issues $2.10 million, 5-year, 11% bonds at 104, with interest payable annually January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS Prepare the adjusting journal entry to record interest expense and...
Kingbird, Inc. issues $5.2 million, 10-year, 9% bonds at 103, with interest payable on January 1....

Kingbird, Inc. issues $5.2 million, 10-year, 9% bonds at 103, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2022, assuming...

Kingbird, Inc. issues $5.2 million, 20-year, 7% burcis at 102, with interest payable on January 1....

Kingbird, Inc. issues $5.2 million, 20-year, 7% burcis at 102, with interest payable on January 1. The straight-line method is used to amortize bond premium. Your answer is correct. Prepare the journal entry to record the sale of these boncs on January 1 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan 1 C S2000 Bonds Payable Premium on Bonde Payable cTextbook and Media List of...
Cullumber Inc. issues $3,500,000, 5-year, 8% bonds at 103, with interest payable annually on January 1....

Cullumber Inc. issues $3,500,000, 5-year, 8% bonds at 103, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the adjusting journal entry to record interest expense and...
Ivanhoe Inc. issues $2,000,000, 5-year, 14% bonds at 101, with interest payable annually on January 1....

Ivanhoe Inc. issues $2,000,000, 5-year, 14% bonds at 101, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the adjusting journal entry to record interest expense and...

Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December...

Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022,...

please i want the part two answered thank you Harvard Inc. issues $4 million, 5-year, 8%...

Homework Answers

Add Answer to:
please i want the part two answered thank you Harvard Inc. issues $4 million, 5-year, 8%...

Post as a guest

Earn Coins

Harvard Inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on January 1. The straight-line method...

Harvard Inc. issues $4.0 million, 5-year, 8% bonds at 102, with interest payable on January 1....

Golden Inc. issues $4,000,000, 5-year, 10% bonds at 102, with interest payable annually on January 1...

Sage Hill Inc. issues $3.4 million, 5-year, 6% bonds at 102, with interest payable on January...

Brief Exercise 10-20 Metlock, Inc. issues $2.10 million, 5-year, 11% bonds at 104, with interest payable...

Kingbird, Inc. issues $5.2 million, 10-year, 9% bonds at 103, with interest payable on January 1....

Kingbird, Inc. issues $5.2 million, 20-year, 7% burcis at 102, with interest payable on January 1....

Cullumber Inc. issues $3,500,000, 5-year, 8% bonds at 103, with interest payable annually on January 1....

Ivanhoe Inc. issues $2,000,000, 5-year, 14% bonds at 101, with interest payable annually on January 1....

Carla Vista Co. issues $4.0 million, 10-year, 8% bonds at 99, with interest payable on December...

please i want the part two answered thank you Harvard Inc. issues $4 million, 5-year, 8%...

Homework Answers

Add Answer to: please i want the part two answered thank you Harvard Inc. issues $4 million, 5-year, 8%...

Post as a guest

Earn Coins

Add Answer to:
please i want the part two answered thank you Harvard Inc. issues $4 million, 5-year, 8%...