Homework Answers
Answer:
| 1 | ||||
| Date | General Journal | Debit | Credit | |
| Jan 01 | Cash | 25740 | =26000*0.99 | |
| Discount on bonds payable | 260 | |||
| Bonds payable | 26000 | |||
| Jan 01 | Cash | 26910 | =26000*103.5% | |
| Bonds payable | 26000 | |||
| Premium on Bonds payable | 910 | |||
| 2 | ||||
| Semiannual cash interest payment | 2340 | =26000*18%*6/12 |
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QS 10-4 Recording bond issuance and interest LO P1, P2, P3 On January 1, Renewable Energy...
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Exercise 10-1 Recording bond issuance and interest LO P1 On January 1, Boston Enterprises issues bonds...
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Exercise 10-3 Recording bond issuance and interest LO P1 On January 1, Boston Enterprises issues bonds...
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Exercise 10-3 Recording bond issuance and interest LO P1 On January 1, Boston Enterprises issues bonds that have a $1,750,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30,...
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