Acme Corp is in need of cash It issues bonds with a $8,500,000 face value The bonds have a 7 60 coupon rate The market rate is 10 The bonds have a life of 5 years, and are compounded semiannually Acme Corp issues the bonds on 1 1 2022 You may round your answers to the nearest dollar What is the journal entry Acme Corp will record upon issuance of these bonds Question 10 options Dr Cash $8,500,000 Cr Premium $787,646 Cr Bonds Payable $7,712,354 Dr Cash $8,500,000 Cr Bonds Payable $8,500,000 Dr Cash $8,500,000 Cr Discount $787,646 Cr Bonds Payable $7,712,354 Dr Cash $7,712,354 Dr Premium $787,646 Cr Bonds Payable $8,500,000 Dr Cash $7,712,354 Dr Discount $787,646 Cr Bonds Payable $8,500,000 question 2 Acme Corp is in need of cash It issues bonds with a $8,500,000 face value The bonds have a 7 60 coupon rate The market rate is 10 The bonds have a life of 5 years, and are compounded semiannually Acme Corp issues the bonds on 1 1 2022 You may round your answers to the nearest dollar What is the journal entry Acme Corp will record on 6 30 22 Question 11 options N A No journal entry is required Dr Interest Expense $388,618 Cr Discount $65,749 Cr Cash $323,000 Dr Interest Expense $385,618 Cr Discount $62,618 Cr Cash $323,000 Dr Interest Expense $385,618 Cr Premium $62,618 Cr Cash $323,000 Dr Interest Revenue $385,618 Cr Discount $62,618 Cr Cash $323,000 question 3 Acme Corp is in need of cash It issues bonds with a $8,500,000 face value The bonds have a 7 60 coupon rate The market rate is 10 The bonds have a life of 5 years, and are compounded semiannually Acme Corp issues the bonds on 1 1 2022 You may round your answers to the nearest dollar What is the journal entry at Acme Corp will record on 12 31 22 Question 12 options Dr Interest Expense $385,618 Cr Discount $62,618 Cr Cash $323,000 N A No journal entry is required Dr Interest Expense $385,618 Cr Premium $62,618 Cr Cash $323,000 Dr Interest Revenue $385,618 Cr Discount $62,618 Cr Cash $323,000 Dr Interest Expense $388,749 Cr Discount $65,749 Cr Cash $323,000 question 4 Acme Corp is in need of cash It issues bonds with a $8,500,000 face value The bonds have a 7 60 coupon rate The market rate is 10 The bonds have a life of 5 years, and are compounded semiannually Acme Corp issues the bonds on 1 1 2022 You may round your answers to the nearest dollar What is the journal entry Acme Corp will record when it retires the bonds in 5 years (after not including the final coupon payment) Question 13 options N A No journal entry is required Dr Bonds Payable $8,500,000 Cr Cash $8,500,000 Dr Bonds Payable $8,500,000 Cr Discount $787,646 Cr Cash $7,712,354 Dr Bonds Payable $7,712,354 Cr Cash $7,712,354 Dr Bonds Payable $8,500,000 Cr Premium $787,646 Cr Cash $7,712,354

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Acme Corp. is in need of cash. It issues bonds with a $8,500,000 face value. The bonds have a 7.60% coupon rate. The market rate

Acme Corp. is in need of cash. It issues bonds with a $8,500,000 face value. The bonds have a 7.60% coupon rate. The market rate is 10%. The bonds have a life of 5 years, and are compounded semiannually. Acme Corp. issues the bonds on 1/1/2022. You may round your answers to the nearest dollar.

_________________________

What is the journal entry Acme Corp. will record upon issuance of these bonds?

Question 10 options:

	Dr. Cash $8,500,000 Cr. Premium $787,646 Cr. Bonds Payable $7,712,354
	Dr. Cash $8,500,000 Cr. Bonds Payable $8,500,000
	Dr. Cash $8,500,000 Cr. Discount $787,646 Cr. Bonds Payable $7,712,354
	Dr. Cash $7,712,354 Dr. Premium $787,646 Cr. Bonds Payable $8,500,000
	Dr. Cash $7,712,354 Dr. Discount $787,646 Cr. Bonds Payable $8,500,000

question 2

_________________________

What is the journal entry Acme Corp. will record on 6/30/22?

Question 11 options:

N/A; No journal entry is required.

Dr. Interest Expense $388,618 Cr. Discount $65,749 Cr. Cash $323,000

Dr. Interest Expense $385,618 Cr. Discount $62,618 Cr. Cash $323,000

Dr. Interest Expense $385,618 Cr. Premium $62,618 Cr. Cash $323,000

Dr. Interest Revenue $385,618 Cr. Discount $62,618 Cr. Cash $323,000

question 3

_________________________

What is the journal entry at Acme Corp. will record on 12/31/22?

Question 12 options:

Dr. Interest Expense $385,618 Cr. Discount $62,618 Cr. Cash $323,000

N/A; No journal entry is required.

Dr. Interest Expense $385,618 Cr. Premium $62,618 Cr. Cash $323,000

Dr. Interest Revenue $385,618 Cr. Discount $62,618 Cr. Cash $323,000

Dr. Interest Expense $388,749 Cr. Discount $65,749 Cr. Cash $323,000

question 4

_________________________

What is the journal entry Acme Corp. will record when it retires the bonds in 5 years (after/not including the final coupon payment):

Question 13 options:

	N/A; No journal entry is required.
	Dr. Bonds Payable $8,500,000 Cr. Cash $8,500,000
	Dr. Bonds Payable $8,500,000 Cr. Discount $787,646 Cr. Cash $7,712,354
	Dr. Bonds Payable $7,712,354 Cr. Cash $7,712,354
	Dr. Bonds Payable $8,500,000 Cr. Premium $787,646 Cr. Cash $7,712,354