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Assignment #2 Saved Solar Energy Inc. issued a $900,000.5%, five year bond on October 1, 2020. Interest is paid annually each October 1. Solar's year-end
Assignment #2 Saved Solar Energy Inc. issued a $900,000.5%, five year bond on October 1, 2020. Interest is paid annually each October 1. Solar's year-end is December 31 31:15 Interest Paid Period Interest Expendo Discount Art Perinding Oct. 1/20 Get 1/23 Oct. 1/22 Oct 1/23 Oct. 1/24 Oct 1/25 $ 45,000 45,000 45.000 45,000 45,000 $225.000 $ 51.725 52, 129 52,557 53, 010 53.499 $ 262, 911 9.6.725 7. 129 7,552 8.010 8.450 $37.911 Uninortired Discount $37, 911 31. 186 24,067 16,500 8.490 Carrying Val $863,089 368. 814 875, 943 883,500 891,510 100,000 Assume that interest has already been paid on October 1, 2023. Required: Using the amortization schedule provided above, record the entry to retire the bonds on October 1, 2023. for cash of a. $881,000 b. $883,500 $886.900 View transaction list Journal entry worksheet 2 3
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