Oriole Company sold $3,140,000, 9%, 10-year bonds on January 1, 2025. The bonds were dated January...

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Oriole Company sold $3,140,000, 9%, 10-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. (a) Question Part Score (b) Question Part Score (c) 7.51/7.51 10.51/10.51 Your answer is partially correct. Prepare the journal entries to record interest expense for 2025 under both of the bond issuances assuming they sold at: (1) 104 and (2) 95. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Vo. Date Account Titles and Explanation L 12/31/25 2 12/31/25 Interest Expense Discount on Bonds Payable Debit 298300 Credit 1570 28260 Oriole Company sold $3,140,000, 9%, 10-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. (a) Question Part Score (b) Question Part Score (c) 7.51/7.51 10.51/10.51 Your answer is partially correct. Prepare the journal entries to record interest expense for 2025 under both of the bond issuances assuming they sold at: (1) 104 and (2) 95. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Vo. Date Account Titles and Explanation L 12/31/25 2 12/31/25 Interest Expense Discount on Bonds Payable Debit 298300 Credit 1570 28260

Answer rating: 100% (QA)

To record interest expense for 2025 under both bond issuances assuming they sold at 1 104 and 2 95 t... View the full answer