1 of 4 View Policies Show Attempt History Current Attempt in Progress 4.44/20 1 On January 1, 2021, Oriole Satellites issued $1,150,000, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Oriole has a December 31 year end. A partial bond amortization schedule is presented below: Semi-Annual Interest Period Interest Payment Interest Expense Amortization Bond Amortized Cost Jan 1, 2021 $1,068,279 July 1, 2021 $121 $2.890 1,071,169 Jan. 1.2022 34,500 37,491 2,991 1,074,160 July 1, 2022 34,500 37.596 [3] 1077,256 Jan. 1,2023 34,500 37,704 141 151 July 1, 2023 34,500 37,816 3.316 1,083,776 Jan 1, 2024 34.500 37,932 3,432 1,087,208 Part 3 What is the contractual rate of interest? Contractual rate of interest 4.44/20 i eTextbook and Media List of Accounts Save for Later Using multiple attempts will impact your score. 40% score reduction after attempt 41 Attempts: 0 of 5 used Submit Answer Part 4 Fill in the missing amounts for items [1] through [5]. Fill in the missing amounts for items [1] through [5] Semi- Annual Interest Period Interest Payment Interest Expense Amortization Bond A Jan. 1. 2021 July 1. $[1] $12] $2.890 2021 Jan. 1, 34,500 37,491 2,991 2022 July 1, 34,500 37,596 [3] 2022 Jan. 1, 34,500 37,704 [4] [5] 2023 July 1, 34,500 37,816 3,316 2023 3,432 Jan. 1, 34,500 37,932 2024 Fill in the missing amounts for items [1] through [5] terest Payment Interest Expense Amortization Bond Amortized Cost $1,068,279 34500 $[2] 34,500 37,491 34,500 37.596 [3] 34,500 37,704 [4] 34,500 37.816 $2,890 1,071,169 2.991 1,074,160 1077,256 151 3,316 1,083,776 34,500 37,932 3,432 1,087,208 Part 5 What was the market interest rate when the bonds were issued? (Round answer to O decimal places, eg. 52%) Market interest rate eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer Using multiple attempts will impact your score. 40% score reduction after attempt 4 Part 6 Record the issue of the bonds on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not Part 6 Record the issue of the bonds on January 1, 2021. (Credit account titles are automatically Indented when the 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.) Date Account Titles and Explanation Jan. 1, 2021 (To record issuance of bonds.) eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 5 used Submit Answer Part 7 Record the interest payment on July 1, 2021. (Credit account titles are automatically Indented when the 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) Date July 1, 2021 Account Titles and Explanation (To record interest payment.) eTextbook and Media List of Accounts MacBook Pro Debit Credit Part 8 Record the accrual of interest on December 31, 2021. (Credit account titles are automatically Indented when the 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) Date Account Titles and Explanation Dec. 31, 2021 (To accrue interest expense) eTextbook and Media List of Accounts Save for Later Using multiple attempts will impact your score. Debit Credit Attempts: 0 of 5 used Submit Answer Party 4.89/20 TE What amounts would be reported as current and non-current in the liabilities section of Oriole's December 31, 2021, balance sheet? eTextbook and Media List of Accounts Save for Later ORIOLE SATELLITES Balance Sheet (Partial) I Attempts: 0 of 5 used i Submit