2 On February 1, 2021, Cromley Motor Products issued 6% bonds dated February with a face amount of $55 million The bonds mature on January 31, 2025 (4 years. The market yield for bonds of similarrek and maturity was 8Interest is paid semiannually on July 31 and January 31 Barnwell Industries acquired $55,000 of the bonds as a long term investment. The fiscal years of both fits end December 31. (Ey of $1. PV 51. EVA of S1, PYAE S. EVAD OS and A. (Use appropriate factor(s) from the tables provided.) Required 1. Determine the price of the bonds issued on February 1 2021 2. Prepare amortization schedules that indicate Cromleys efective rest expense for each interest benod during the term to maturity 2-b. Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity 3. panthe journal entries to recordance of the bonds by Cromley and went on February 1, 2021 4. Prepare the journal entries by both firms to record all subsequent events related to the bonds through January 1 2023 Complete this question by entering your answers in the tabs blow. Med 2A Hea 20 Red Re4 Crow Prepare the journal entries by Cromley to record boqueteated to the band throwdhury 1, 2021. (i no entry und leo Jumat my required the fuccendol Domit rond Intermediate calculation Enter your answers in while otors) View transactions Journal entry worksheet 3 4 5 6 Record the payment of interest for Cromley Company On February 1, 2021. Cromley Motor Products issued 6% bonds, dated February 1, with a face amount of $55 million. The bonds mature on January 31, 2025 (4 years). The market yield for bonds of similar risk and maturity was 8%. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $55,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31 (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of S1 and PVAD of $1 (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds issued on February 1, 2021. 2-a. Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity 2-b. Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity 3. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's investment on February 1, 2021 4. Prepare the journal entries by both firms to record all subsequent events related to the bonds through January 31, 2023 Complete this question by entering your answers in the tabs below. Reg 1 Req ZA Reg 28 Reg 3 Req 4 Cromley Reg 4 Barnwell Determine the price of the bonds issued on February 1, 2021. (Do not round intermediate calculations. Enter your answer in whole dollars.) Price of the bands 5 933 Reg 2A > Individual Project Accounting for Bond Seved 2 On February 1, 2021. Cromley Motor Products issued 6% bonds, dated February 1, with a face amount of $55 million. The bonds mature on January 31, 2025 (4 years). The market yield for bonds of similar risk and maturity was 8%. Interest is paid semiannually on July 31 and January 31 Barnwell Industries acquired $55.000 of the bonds as a long-term investment. The fiscal years of both firms end December 31 (EVS1 PV of S1, EVA OS1. PVA OLS1 FVAD of S1 and PVAD of 5:1 (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds issued on February 1, 2021 2-o. Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity 2-b. Prepare amortization schedules that indicate Barriwell's effective interest revenue for each interest period during the term to maturity 3. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's Investment on February 1.2021 4. Prepare the joumal entries by both firms to record all subsequent events related to the bonds through January 31, 2023 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 20 Req3 Peg 4 Cromley Reg 4 Bmwell Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity. (Do not round Intermediate calculations. Enter your answers in Word dollar Payment Effective interest Outstanding Cash Payonent Increase in Balance Number Balance + 1 2 4 5 6 2 Totals $ Reg 1 Reg 28 > On February 1 2021. Cromley Motor Products issued 6% bonds, dated February , with a face amount of $55 million. The bonds mature on January 31, 2025 (4 years) The market yield for bonds of similar risk and maturity was 8%. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $55,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. (FV SI. PV of S1. EVA O SI PVA of $1. FVAD of S1 and PVAD of 5) (Use oppropriate factor(s) from the tables Required: 1. Determine the price of the bonds issued on February 1 2021 2-0. Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity 2-b. Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity 3. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's investment on February 1, 2021 4. Prepare the journal entries by both firms to record all subsequent events related to the bonds through January 31, 2023 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 28 Req3 Reg 4 Cromley Reg 4 Barnwell Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity. (Do not round Intermediate calculations. Enter your answers in whole dollars.) Payment Cash Effective Increase in Outstanding Number Payment Interest Balance Balance 1 2 3 4 5 5 7 8 Totals 5 05 0 $ 2 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Reg 3 Req 4 Cromley Reg 4 Barnwelt Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's investment on February 1, 2021. (if no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 > Record the issuance of the bonds by Cromley Nota: Enter debits before credits General Journal Debit Credit Date February 01, 2021 Record entry Clear entry View general journal 2 Reg 1 Reg 2A Reg 28 Reg 3 Reg 4 Cromley Reg 4 Barnwell Prepare the journal entries by Cromley to record all subsequent events related to the bonds through January 31, 2023. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round Intermediate calculations Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 3 4 6 Record the payment of interest for Cromley Company. Note Enter debits before credits General Journal Debit Date July 31, 2021 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Req3 Req 4 Cromley Req 4 Baby Prepare the journal entries by Barnwell to record all subsequent events related to the bonds through January 31, 2023. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round Intermediate calculations, Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the receipt of interest for Barnwell Company, Notes Enter debits before credits General Journal Debit Credit Date July 31, 2021 Record entry Clear entry View general journal Individual Project Accounting for Bond Seved 2 On February 1, 2021. Cromley Motor Products issued 6% bonds, dated February 1, with a face amount of $55 million. The bonds mature on January 31, 2025 (4 years). The market yield for bonds of similar risk and maturity was 8%. Interest is paid semiannually on July 31 and January 31 Barnwell Industries acquired $55.000 of the bonds as a long-term investment. The fiscal years of both firms end December 31 (EVS1 PV of S1, EVA OS1. PVA OLS1 FVAD of S1 and PVAD of 5:1 (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds issued on February 1, 2021 2-o. Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity 2-b. Prepare amortization schedules that indicate Barriwell's effective interest revenue for each interest period during the term to maturity 3. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's Investment on February 1.2021 4. Prepare the joumal entries by both firms to record all subsequent events related to the bonds through January 31, 2023 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 20 Req3 Peg 4 Cromley Reg 4 Bmwell Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity. (Do not round Intermediate calculations. Enter your answers in Word dollar Payment Effective interest Outstanding Cash Payonent Increase in Balance Number Balance + 1 2 4 5 6 2 Totals $ Reg 1 Reg 28 > On February 1 2021. Cromley Motor Products issued 6% bonds, dated February , with a face amount of $55 million. The bonds mature on January 31, 2025 (4 years) The market yield for bonds of similar risk and maturity was 8%. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $55,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. (FV SI. PV of S1. EVA O SI PVA of $1. FVAD of S1 and PVAD of 5) (Use oppropriate factor(s) from the tables Required: 1. Determine the price of the bonds issued on February 1 2021 2-0. Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity 2-b. Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity 3. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's investment on February 1, 2021 4. Prepare the journal entries by both firms to record all subsequent events related to the bonds through January 31, 2023 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 28 Req3 Reg 4 Cromley Reg 4 Barnwell Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity. (Do not round Intermediate calculations. Enter your answers in whole dollars.) Payment Cash Effective Increase in Outstanding Number Payment Interest Balance Balance 1 2 3 4 5 5 7 8 Totals 5 05 0 $ 2 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Reg 3 Req 4 Cromley Reg 4 Barnwelt Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell's investment on February 1, 2021. (if no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 > Record the issuance of the bonds by Cromley Nota: Enter debits before credits General Journal Debit Credit Date February 01, 2021 Record entry Clear entry View general journal 2 Reg 1 Reg 2A Reg 28 Reg 3 Reg 4 Cromley Reg 4 Barnwell Prepare the journal entries by Cromley to record all subsequent events related to the bonds through January 31, 2023. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round Intermediate calculations Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 3 4 6 Record the payment of interest for Cromley Company. Note Enter debits before credits General Journal Debit Date July 31, 2021 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Req3 Req 4 Cromley Req 4 Baby Prepare the journal entries by Barnwell to record all subsequent events related to the bonds through January 31, 2023. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round Intermediate calculations, Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the receipt of interest for Barnwell Company, Notes Enter debits before credits General Journal Debit Credit Date July 31, 2021 Record entry Clear entry View general journal