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Bond Amortization Schedule and Journal Entries. Help checking the answers and filling out the rest would be greatly appreciated Prepare the bond amortization schedule Round
Bond Amortization Schedule and Journal Entries.
Help checking the answers and filling out the rest would be greatly appreciated
Prepare the bond amortization schedule Round to the nearest dollar.) A ) D D#periods Amount of PremDisc D-C Un-Amortized Prem (Disc) %X Face/2 Face H-) D Cash Interest Interest Expense Period # Date Bond Cary Value Payment Issue Date>> Jan, 1 st 90,000 90,000 90,000 90,000 37,500 37,500 37,500 37,500 52,500 3,112,500 75,000 3,037,500 3,000,000 52,500 37.500 52,500 JE1: Prepare iournal entry for sale of the bonds January 1, vearl. Explanation adequate to calculate Bond value Date Account/Description Dr. 1-Jan lCash Premium on bonds Bonds Pavable 150,000 issuance ofbond 6% at 105 JE2: Prepare journal entry to record bond interest payment on July 1st Date Account/Description Dr. 1-JullInterest Expense Bond Premium 37,500 Cash 90,000 JE3: Prepare iournal entry accrual ofinterest expense December 31st Date Account/Description Dr. 31-Dec JE4: Prepare journal entry to pay interest January 2, vear2 Date Account/Description Dr. Date Account/Description DrStep by Step Solution
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