12. On January 1, a company issues bonds dated January 1 with a par value of $740,000. The bonds mature in 3 years. The contract rate is 10%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $719,000. The journal entry to record the first interest payment using straight-line amortization is:

16. On January 1, a company issues bonds dated January 1 with a par value of $330,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $343,395. The journal entry to record the issuance of the bond is:

20.

n preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available:

Net income for the year was	$	58,000
Accounts payable decreased by		21,000
Accounts receivable increased by		28,000
Inventories increased by		8,000
Depreciation expense was		36,000

Net cash provided by operating activities was:

22. On January 1, Year 1, Stratton Company borrowed $210,000 on a 10-year, 10% installment note payable. The terms of the note require Stratton to pay 10 equal payments of $34,177 each December 31 for 10 years. The required general journal entry to record the payment on the note on December 31, Year 2 is

23. Fargo Company's outstanding stock consists of 950 shares of noncumulative 5% preferred stock with a $10 par value and 4,800 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

24. Fetzer Company declared a $0.55 per share cash dividend. The company has 280,000 shares authorized, 266,000 shares issued, and 11,200 shares in treasury stock. The journal entry to record the payment of the dividend is:

25. Northington, Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the amount of cash flows from financing activities:

Net income	$	182,000
Gain on the sale of equipment		12,300
Proceeds from the sale of equipment		92,300
Depreciation expenseequipment		50,000
Payment of bonds at maturity		100,000
Purchase of land		200,000
Issuance of common stock		300,000
Increase in merchandise inventory		35,400
Decrease in accounts receivable		28,800
Increase in accounts payable		23,700
Payment of cash dividends		32,000