+ Chapter 10 - HW Question 2 of 6 0.67/1 View Policies Show Attempt History Current Attempt in Progress On January 1, 2021. Coronado Corp. issued five-year bonds with a face value of $350,000 and a coupon interest rate of 6%, with interest payable semi-annually. Assume that the company has a December 31 year end and records adjusting entries annually. Click here to view factor tables Your Answer Correct Answer Your answer is correct Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 5%. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round answers to decimal places, eg. 5,275.) Account Titles and Explanation Debit Credit Date DOO Question 2 of 6 0.67/1 manually. List all debit entries before credit entries. Round answers to decimal places, c.8.5.275.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 365.317.00 Bonds Payable 365 317.00 July 1 Bonds Payable 1,367.00 Interest Expense 9,133.00 Cash - 10,500.00 Dec 31 Bonds Payable 1,401.00 Interest Expense 9.099.00 Interest Payable 10,500.00 e Textbook and Media List of Accounts Attempts: 3 of 3 used $ % Question 2 of 6 0.67/1 E Your answer is correct. Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 6%. (Credit account titles are automatically indented when the amount is entered. Do not indent manually . List all debit entries before credit entries. Round answers to decimal places, eg. 5,275.) Account Titles and Explanation Debit Credit Cash 350,000.00 Bonds Payable 350,000.00 re Interest Expense 10,500.00 Cash 10,500.00 11 Interest Expense 10,500.00 Interest Payable 10,500.00 e Textbook and Media 44 Question 2 of 6 0.67 / 1 Ini Record the journal entries relating to the bonds on January 1, July 1. and December 31, assuming that when the bonds were sold, the market interest rate was 7%. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries, Round answers to decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Cash 350,000.00 an1 Bonds Payable 350,000.00 uly 1 Interest Expense Cash Bonds Payable Dec. 31 Interest Expense Cash Bonds Payable e Textbook and Media 00
