do 10-16

Chapter y 453 Duval Co. issues four-year bonds with a $100,000 par value on January i, 2018, at a price of $95,952 annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31. . The Exercise 10-15 1. Prepare an amortization table like the one in Exhibit 10.7 for these bonds. Use the straight-line method A ation table and bond interest expense of interest amortization. 2. Prepare journal entries to record the first two interest payments. 3. Prepare the journal entry for maturity of the bonds on December 31, 2021 (assume semiannual interest is already On January 1, 2018, Brussels Enterprises issues bonds at par dated January 1, 2018, that have a $3,400,000 par value, mature in 4 years, and pay 9% interest semiannually on June 30 and December 31, 1. Record the entry for the issuance of bonds for cash on January 1, 2018. 2. Record the entry for the first semiannual interest payment on June 30, 2018 3. Record the entry for the second semiannual interest payment on December 31. 2018 4. Record the entry for the maturity of the bonds on December 31, 2021 (assume semiannual interest is Exercise 10-16 Recording bond issuance at par, interest payments and bond maturity P1 already recorded) From the information provided, indicate whether the company in each se tered into a finance lease or an operating lease. Exercise 10-17 Identifying finance and parate case 1 through 3 has en- operating leases C3 1. The lessor retains title to the asset, and the lease term is 3 years on an asset that has a 10-year useful life. 2. The title is transferred to the lessee, the lessee can purchase the asset for $1 at the end of the lease, and The present value of the lease payments is 95% of the leased asset's market value, and the lease term ie 90%% of the leased asset's useful life the lease term is five years. The leased asset has an expected useful life of six years 3. 18c