Calming, Inc. is authorized to issue 5%, 10-year bonds payable. On January 1, 2016, when the market interest rate is 8%, the company issues $600,000 of the bonds. The bonds pay interest semiannually. Requirement 3

Score: 15.3 of 32 pts 2 of 2 (2 complete HW Score: 74.31%, 48.3 of 65 pts EE Question Help P12B-37A (similar to) Calming, Inc. is authorized to issue 5%, 10-year bonds payable. On January 1, 2016, when the market interest rate is 8%, the company issues $600,000 of the bonds. The bonds pay interest semiannually. Click the icon to view the Present value of $1 table.) B (click the icon to view the Present Value of Annuity of $1 table.) (click the icon to view the Future Value of $1 table) (click the icon to view the Future Value of Annuity of$1 table.) Read the requirements. Cash Paid Expense Amortized Amount 477,684. 01/01/2016 06/30/2016 15,000 19,107 4,107 481,791 12/31/2016 15,000 19,272 4,272 486,063 Requirement 3. Journalize the issuance of the bonds on January 1, 2016, and payment of the first semiannual interest amount and amortization of the bond on June 30, 2016. Explanations are not required. (Record debits first, then credits Journalize the issuance of the bonds Date Debit Credit Accounts 2016 Jan. 1 Choose from any list or enter any number in the input fields and then click Check Answer. part Clear All Check Answer remaining