900 a P7-40A 1. Journalize the following transactions of Trekker Boot Company: 2020 Jan. 1 Issued $600,000 of 8%, 10-year bonds at 97. July 1 Paid semi-annual interest and amortized bonds by the straight-line method on the 8% bonds payable. Dec. 31 Accrued semi-annual interest expense and amortized bonds by the straight-line method on the 8% bonds payable. 2021 Jan. 1 Paid semi-annual interest. 2030 Jan. 1 Paid the 8% bonds at maturity. ASSESS YOUR PROGRESS 2. At December 31, 2020, after all year-end adjustments, determine the carrying amount of Trekker's bonds payable, net. 3. For the six months ended July 1, 2020, determine the following for Trekker: a. Interest expense b. Cash interest paid What causes interest expense on the bonds to exceed cash interest paid? Accume the plans call LEA LEARNING OBJECTIVES 000 Account for bonds payable at a discount and amortize by the straight-line method P7-40A 1. Journalize the following transactions of Trekker Boot Company: 2020 Jan. 1 July 1 Issued $600,000 of 8%, 10-year bonds at 97. Paid semi-annual interest and amortized bonds by the straight-line method on the 8% bonds payable. Dec. 31 Accrued semi-annual interest expense and amortized bonds by the straight-line method on the 8% bonds payable. 2021 Jan. 1 Paid semi-annual interest. 2030 Jan. 1 Paid the 8% bonds at maturity