37 Journal Entry worksheet

Clem Company issued $810,000,10-year, 4 percent bonds on January 1,2021 . The bonds sold for $747,454, Interest is payable annually on December 31. Using effective-interest amortization, prepare journal entries to record (a) the bond issuance on January 1 , 2021 , and (b) the payment of interest on December 31, 2021. The market interest rate on the bonds is 5 percent. (If no entry is required for a tronsaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of bonds with a face value of $810,000 for $747,454. Note: tinter debits before credits. Clem Company issued $810,000,10-year, 4 percent bonds on January 1,2021 . The bonds sold for $747,454. Interest is annually on December 31. Using effective-interest amortization, prepare Journal entries to record (d) the bond issuance 2021, and (b) the payment of interest on December 31, 2021. The market interest rate on the bonds is 5 percent (If no required for a transoction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet Record the interest payment on December 31, 2021. Note: Enter debits before credits