Answer problem 10B-9 in T-Chart Form

10B-7. (Similar to problem 10B-4) TONG Incorporated issues 10-year bonds with a face value of $300,000 and a stated annual interest rate of 1070, paid semi-annually. The bonds sold at a price of 89 (89% of face value). The effective annual interest rate is 12%. Required: Prepare the bond amortization table for these bonds for the most four six-month periods. 10B-8. (Similar to problem 10B-5) For the situation described in 101-1 assume that the bonds were issued on March 1, 20x1. Required: Use the amortization table to determine the entries required to record the September 1, 20x1 interest payment, the necessary December 31, 20x1 adjusting entries, and the March 1, 20x2 interest payment. 10B-9. (Similar to problem 10B-6) For the situation described in 10B-7 and 10B-8, assume that immediately after making the March 1, 20x2 payment TONG repurchases all the bonds for $200,000. Required: Show the entry necessary to record TONG's repurchase of the bonds. Chapter 10 Section B Problem 10B-8 and 10B-9 Cash Bonds Payable Discount on Bonds Payable Interest Payable Interest Expense