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2 Part 2 Required information P10-7 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 [The following information applies to
2 Part 2 Required information P10-7 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 [The following information applies to the questions displayed below) Claire Corporation is planning to issue bonds with a foce value of $290,000 and a coupon rate of 10 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30. September 30, and December 31 All of the bonds were sold on January 1 of this year Claire uses the effective interest amortization method and also uses a discount account Assume an annual market rate of interest of 12 percent (FV of S1, PV of $1. EVA 0 1 and PVA of 51 (Use the appropriate factor(s) from the tables provided) P10-7 Part 2 Runt 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. Of no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) Hefect View transaction ist Journal entry worksheet 2 3 4 1 > Record the interest payment on March 31. Na de on General Journal Debit Credit Date March 31 Journal entry worksheet Record the interest payment on June 30. Note: Enter debits before credits Date General Journal Debit Credit June 30 Record entry Clear entry View general Journal View transaction list Journal entry worksheet 1 2 4 > Record the interest payment on September 30. Note: Enter debits before credits. Date September 30 General Journal Debit Credit Record entry Clear entry Vlow general Journal Journal entry worksheet
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