Also:

Simko Company issued $740,000, 5-year, 5 percent bonds on January 1, 2015. The bonds were issued for $705,000. Interest is payable annually on December 31. Using straight-line amortization, prepare journal entries to record (a) the bond issuance on January 1, 2015, and (b) the payment of interest on December 31, 2015. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.

Record the issuance of bonds with a face value of $740,000 for $705,000.

Record the interest payment on December 31, 2015.

BSO, Inc. has assets of $830,000 and liabilities of $622,500 resulting in a debt-to-assets ratio of 0.75. For remain the same, and enter the value of the new debt-to-assets ratio. (Round your answers to 2 decimal places.) Debt-to-Assets Ratio a. Purchased $66,000 of new inventory on credit. b. Paid accounts payable in the amount of $119,000. c. Recorded accrued salaries in the amount of $215,000. d. Borrowed $365,000 from a local bank, to be repaid in 90 days