Chapter 14 Help Save & Exit Submit 5 Check my work 8 2 nts McWherter Instruments sold $480 million of 10% bonds, dated January 1, on January 1, 2021. The bonds mature on December 31, 2040 (20 years). For bonds of similor risk and maturity, the market yleld was 12%. Interest is paid semiannually on June 30 and December 31, Blanton Technologies, Inc, purchased $480,000 of the bonds as a long-term Investment. (FV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of S1 and PVAD of 51) (Use appropriate factor(s) from the tables provided.) Requlred: 1. Determine the price of the bonds issued on January 1, 2021. 2. Prepare the journal entries to record (a) their issuance by McWherter and (b) Blanton's investment on January 1, 2021. 3. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). 4. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2021 (at the effective rate). Sipped Book Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the price of the bonds issued on January 1, 2021. (Enter your answer in whole dollars.) Bond price Required 2 > Proy 8 of 9 Check my work 3 Prepare the joumat entries to record (a) their issuance by McWherter and (b) Stanton's investment on January 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round Intermediate calculations, Enter your answers in whole dollars.) View transaction list ed Journal entry worksheet MacBook Pro 8 Rebird 3 Required 2 Required 4 Required Prepare the joumal entries by (a) MeWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). (If no er required for a transaction/event, select "No journal entry required in the first account field. Do not round Intermediate calculatio Enter your answers in whole dollars.) 2.22 points Skipped View transaction list Journal entry worksheet 800 MacBook Pro Required 1 Required 2 Required 3 Required 4 Prepare the journal entries by (a) MeWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round Intermediate calculations Enter your answers in whole dollars.) 2.22 points Sinced View transaction list Journal entry worksheet elok MacBook Pro Check m Chapter 14 8 Required 3 Required 4 Required 1 Required 2 Prepare the journal entries by () McWherter and (b) Blanton to record interest on December 31, 2021 (at the effective rate). (If no entry is required for a transaction/event, select "No joumal entry required in the first account field. Do not round Intermediate calculations. Enter your answers in whale dollars.) 2.22 points Sko View transaction list Journal entry worksheet ebook MacBook Pro Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2021 (at the effe entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round calculations. Enter your answers in whole dollars.) 2.22 points Skipped View transaction list Journal entry worksheet eBook 2 Print Record the interest revenue for Blanton. Note: Enter debits before credits General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal (Mc Graw
