All need to be aswered in order to be correct, thank you!

1. The journal entry a company records for the issuance of bonds when the contract rate is greater than the market rate would be

A. debit Cash and Discount on Bonds Payable, credit Bonds Payable

B. debit Bonds Payable, credit Cash

C. debit Cash, credit Premium on Bonds Payable and Bonds Payable

D. debit Cash, credit Bonds Payable

2. A $300,000 bond was redeemed at 98 when the carrying value of the bond was $292,000. The entry to record the redemption would include a

A. loss on bond redemption of $2,000

B. loss on bond redemption of $4,000

C. gain on bond redemption of $4,000

D. gain on bond redemption of $2,000

3. On January 1, Gemstone Company obtained a $165,000, 10-year, 7% installment note from Guarantee Bank. The note requires annual payments of $23,492, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $11,550 and principal repayment of $11,942. The journal entry to record the payment of the first annual amount due on the note would include a

A. debit to interest expense for $23,492

B. credit to interest payable for $11,550

C. debit to cash for $11,942

D. debit to notes payable for $11,942

4. The Merchant Company issued 10-year bonds on January 1. The 15% bonds have a face value of $100,000 and pay interest every January 1 and July 1. The bonds were sold for $117,205 based on the market interest rate of 12%. Merchant uses the effective interest method to amortize bond discounts and premiums. On July 1 of the first year, Merchant should record interest expense (round to the nearest dollar) of

A. $14,065

B. $7,500

C. $7,032

D. $8,790

5. On the first day of the fiscal year, Lisbon Co. issued $1,000,000 of 10-year, 7% bonds for $1,050,000, with interest payable semiannually. Orange Inc. purchased the bonds on the issue date for the issue price. If Lisbon uses the straight-line method for amortizing the premium, the journal entry to record the first semiannual interest payment by Lisbon Co. would include a debit to

A. Premium on Bonds Payable for $5,500

B. Interest Expense for $32,500

C. Cash for $70,000

D. Interest Payble for $30,000

6.Dylan Corporation issues for cash $2,000,000 of 8%, 15-year bonds, interest payable annually, at a time when the market rate of interest is 9%. The straight-line method is adopted for the amortization of bond discount or premium. Which of the following statements is true?

A. The amount of annual interest paid to bondholders increases over the 15-year life of the bonds.

B. The carrying amount decreases from its amount at issuance date to $2,000,000 at maturity

C. The amount of annual interest expense decreases as the bonds approach maturity.

D. The amount of annual interest paid to bondholders remains the same over the life of the bonds.

7. On the first day of the fiscal year, Hawthorne Company obtained an $88,000, 7-year, 5% installment note from Sea Side Bank. The note requires annual payments of $15,208, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $4,400 and principal repayment of $10,808. The journal entry Hawthorne would record to make the first annual payment due on the note would include a

A. debit to interest expense for $4,400

B. debit to notes payable for $15,208

C. credit to notes payable for $10,808

D. debit to cash for $15,208

8. On January 1, Zero Company obtained a $52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annual payments consisting of principal and interest of $15,179, beginning on December 31 of the current year. The December 31, Year 1 carrying amount in the amortization table for this installment note will be equal to:

A. $40,201

B. $48,620

C. $27,635

D. $36,821

9.The Hayden Corporation issues 1,000, 10-year, 8%, $2,000 bonds dated January 1 at 92. The journal entry to record the issuance will show a

A. credit to Bonds Payable for $2,000,000

B. debit to Cash of $2,000,000

C. credit to Discount on Bonds Payable for $160,000

D. credit to Cash for $1,840,000

10.The adjusting entry to record the amortization of a discount on bonds payable is

A. debit Interest Expense, credit Discount on Bonds Payable

B. debit Discount on Bonds Payable, credit Interest Expense

C. debit Bonds Payable, credit Interest Expense

D. debit Interest Expense, credt Cash