28

TIMED! Please help will give LIKE!!!

Complete this question by entering your answers in the tabs below. Prepare the journal entry to record the bond issuance by Bishop on January 1, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions. Round your intermediate calculations and final answer to the nearest whole dollar. Journal entry worksheet Complete this question by entering your answers in the tabs below. Prepare the journal entry to record interest on June 30, 2024, using the effective interest method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1). Round your intermediate calculations and final answer to the nearest whole dollar: Journal entry worksheet Record the interest on June 30,2024 , using the effective interest method. Note: Inter debits before credits. On January 1, 2024, Bishop Company issued 10% bonds dated January 1, 2024, with a face amount of $20 million. The bonds mature in 2033 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31 . Note: Use tables, Excel, or a financial calculator. (EV of \$1. PV of S1. EVA of \$1. PVA of \$1. EVAD of \$1 and PVAD of S1) Required: 1. Determine the price of the bonds on January 1,2024. 2. Prepare the journal entry to record the bond issuance by Bishop on January 1,2024. 3. Prepare the journal entry to record interest on June 30, 2024, using the effective interest method. 4. Prepare the journal entry to record interest on December 31,2024 , using the effective interest method. Complete this question by entering your answers in the tabs below. Determine the price of the bonds on January 1, 2024. Note: Enter your answers in whole dollars not in millions (1.e., 1,000,000 not 1), Round your intermediate calculations and final answer to the nearest whole dollar. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record interest on December 31, 2024, using the effective interest method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in militions (i.e, 1,000,000 not 1). Round your intermediate calculations and final answer to the nearest whole dollar. Journal entry worksheet Record the interest on December 31, 2024, using the effective interest method. Note: Enter debes before credits