Adcock Company issued $450,000, 6%, 20-year bonds on January 1, 2017, at 101. Interest is payable annually on January 1. Adcock uses straight-line amortization for bond premium or discount.

Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.

PLEASE HELP ME WITH PART D

(b) Your answer is correct. Prepare the journal entry to record the accrual of interest and the premium amortization on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec 31, 2017 Interest Expense 26775 Premium on Bonds Payable Interest Payable 27000 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 3 used (c) Your answer is correct. Prepare the journal entry to record the payment of interest on January 1, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2018 Interest Payable 27000 Cash 27000 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Attempts: 1 of 3 used (d) Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2037