{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T09:47:57-04:00", "answer_date": "2024-06-28 09:47:57", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4288126", "url": "\/study-help\/questions\/cupola-fan-corporation-issued-8-470000-10year-bonds-for-459000-4288126", "question_creation_date_js": "2024-06-28T09:47:57-04:00", "question_creation_date": "Jun 28, 2024 09:47 AM", "meta_title": "[Solved] Cupola Fan Corporation issued 8%, $470,00 | SolutionInn", "meta_description": "Answer of - Cupola Fan Corporation issued 8%, $470,000, 10-year bonds for $459,000 on June 30, 2018. Debt issue costs were $2,200. | SolutionInn", "meta_keywords": "cupola,fan,corporation,issued,8%,$470,000,10-year,bonds,$459,000,june,30,2018", "question_title_h1": "Cupola Fan Corporation issued 8%, $470,000, 10-year bonds for $459,000 on June 30, 2018. Debt issue costs were $2,200. Interest is paid semiannually on December", "question_title": "Cupola Fan Corporation issued 8%, $470,000, 10-year bonds for $459,000 on June", "question_title_for_js_snippet": "Cupola Fan Corporation issued 8 , $470,000, 10 year bonds for $459,000 on June 30, 2018 Debt issue costs were $2,200 Interest is paid semiannually on December 31 and June 30 One year from the issue date (July 1, 2019), the corporation exercised its call privilege and retired the bonds for $465,000 The corporation uses the straight line method both to determine interest expense and to amortize debt issue costs Required 1 to 4 record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December 31, 2018 2019, and the call of the bonds (If no entry is required for a transaction event, select No journal entry required in the first account field ) Journal entry worksheet 2 3 4 Record the issuance of the bonds Note Enter debits before credits Date General Journal Debit Credit June 30, 2018Journal entry worksheet A 2 3 4 Record the payment of interest Note Enter debits before credits Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journalJournal entry worksheet Record the payment of interest Note Enter debits before credits Date General Journal Debit Credit June 30, 2019 Record entry Clear entry View general journalJournal entry worksheet 2 3 4 Record the call of the bonds Note Enter debits before credits Date General Journal Debit Credit July 01, 2019 Record entry Clear entry View general journal", "question_description": "
Cupola Fan Corporation issued 8%, $470,000, 10-year bonds for $459,000 on June 30, 2018. Debt issue costs were $2,200. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2019), the corporation exercised its call privilege and retired the bonds for $465,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.<\/span><\/p> <\/strong><\/p> Required:<\/strong><\/p> 1. to 4.<\/strong> record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December 31, 2018 & 2019, and the call of the bonds.<\/span>(If no entry is required for a transaction\/event, select \"No journal entry required\" in the first account field.)<\/strong><\/p> <\/span><\/p> ??<\/span><\/span><\/p>