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2 of 9 View Policies Current Attempt in Progress -/37 III On January 1, 2020, Windsor Inc. sold 14% bonds having a maturity value of
2 of 9 View Policies Current Attempt in Progress -/37 III On January 1, 2020, Windsor Inc. sold 14% bonds having a maturity value of $760,000 for $786,731, which provides the bondholders with a 13% yield. The bonds are dated January 1, 2020, and mature on January 1, 2025, with interest payable on January 1 of each year. The company follows IFRS and uses the effective interest method. Prepare the journal entry at the date of issue. (Round answers to O decimal places, e.g. 5,255. 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, 2020 eTextbook and Media List of Accounts Debit Credit Prepare a schedule of interest expense and bond amortization for 2020 through 2023. (Round answers to O decimal places, e.g. 5,275.) Schedule of Interest Expense and Bond Premium Amortization Effective Interest Method Date Credit Cash Carrying Amount of Bonds Debit Debit Interest Bonds Expense Payable $ 1/1/20 1/1/21 $ $ 1/1/22 1/1/23 eTextbook and Media List of Accounts $ 69 Prepare the journal entries to record the interest payment and the amortization for 2020. (Round answers to O decimal places, e.g. 5,275. 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, 2020 Debit Credit Jan. 1, 2021 eTextbook and Media List of Accounts Prepare the journal entries to record the interest payment and the amortization for 2022. (Round answers to O decimal places, e.g. 5,275. 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, 2022 Debit Credit Jan. 1, 2023 eTextbook and Media List of Accounts
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