On March 1, 2021, Stratford Lighting issued 12% bonds, dated March 1, with a face amount...
On March 1, 2021, Stratford Lighting issued 10% bonds, dated March 1, with a face amount of $870,000. The bonds sold for $855,000 and mature on February 28, 2041 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight- line method and its fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record the issuance of the bonds by Stratford Lighting on March 1, 2021, interest on August 31,...
On March 1, 2021, Stratford Lighting issued 12% bonds, dated March 1, with a face amount of $720,000. The bonds sold for $714,000 and mature on February 28, 2041 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record the issuance of the bonds by Stratford Lighting on March 1, 2021, interest on August 31, 2021,...
On March 1, 2021, Stratford Lighting issued 12% bonds, dated March 1, with a face amount of $810,000. The bonds sold for $795,000 and mature on February 28, 2041 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record the issuance of the bonds by Stratford Lighting on March 1, 2021, interest on August 31, 2021,...
On March 1, 2021, Stratford Lighting issued 12% bonds, dated March 1, with a face amount of $720,000. The bonds sold for $714,000 and mature on February 28, 2041 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record the issuance of the bonds by Stratford Lighting on March 1, 2021, interest on August 31, 2021,...
On March 1, 2018, Stratford Lighting issued 12% bonds, dated March 1, with a face amount of $720,000. The bonds sold for $714,000 and mature on February 28, 2038 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31. Required: 1. to 4. Prepare the journal entry to record the issuance of the bonds by Stratford Lighting on March 1, 2018, interest on August 31, 2018,...
On March 1, 2018, Stratford Lighting issued 10% bonds, dated March 1, with a face amount of $690,000. The bonds sold for $678,000 and mature on February 28, 2038 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31. points Skipped Required: 1. to 4. Prepare the journal entry to record the issuance of the bonds by Stratford Lighting on March 1, 2018, interest on August...
On March 1, 2018, Stratford Lighting issued 10% bonds, dated March 1, with a face amount of $420,000. The bonds sold for $414,000 and mature on February 28, 2038 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31. Required: 1. to 4. Prepare the journal entry to record the issuance of the bonds by Stratford Lighting on March 1, 2018, interest on August 31, 2018,...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU! Exercise 14-12 (Algo) Bonds; straight-line method; adjusting entry [LO14-2] On March 1, 2021, Stratford Lighting issued 12% bonds, dated March 1, with a face amount of $630,000. The bonds sold for $621,000 and mature on February 28, 2041 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight- line method and its fiscal year ends December 31. Book Required: 1. to 4....
On February 1, 2021, Strauss-Lombardi issued 9% bonds, dated February 1, with a face amount of $780,000. The bonds sold for $713,083 and mature on January 31, 2041 (20 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Strauss-Lombardi’s fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record their issuance by Strauss-Lombardi on February 1, 2021, interest on July 31,...
On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face amount of $35 million. The bonds sold for $34.3 million and mature on February 28, 2024. Interest is paid semiannually on August 31 and February 28. Stillworth Corporation acquired $35,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31, and both firms use the straight-line method. Required: 1. Prepare the journal entries to record (a) issuance of...