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E10-8 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 Denzel Corporation is planning to issue bonds with a face
E10-8 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 Denzel Corporation is planning to issue bonds with a face value of $680,000 and a coupon rate of 7.5 percent. The bonds mature in 8 years and pay interest semiannualy every June 30 and December 31 . Al of the bonds were sold on January 1 of this year. Denzel uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (FV of \$1, PV of \$1, FVA of \$1, and Note: Use appropriate factor(s) from the tabies provided. Required: 1. and 2. Prepare the jaurnal entries to record the issuance of the bonds and interest payment on June 30 of this year. 3. What bonds payable amount will Denzel report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. 1. and 2. Prepare the journal entries to record the issuance of the bonds and interest payment on June 30 of this year. (Iff no entr required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to whole di Journal entry worksheet Nate: Enter deb ta balare eredits. E10-8 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 Denzel Corporation is planning to issue bonds with a face value of $680,000 and a coupon rate of 7.5 percent. The bonds mature in 8 years and pay interest semiannualy every June 30 and December 31 . Al of the bonds were sold on January 1 of this year. Denzel uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (FV of \$1, PV of \$1, FVA of \$1, and Note: Use appropriate factor(s) from the tables provided. Required: 1. and 2. Prepare the journal entries to record the issuance of the bonds and interest payment on June 30 of this year. 3. What bonds payabie amount will Denzel report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. What bonds payable amount will Denzel report on its June 30 balance sheet? (Enter al amounts as positive valu. Round your intermedlate caloulations and final answers to whole dollars.]
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