E12-25

Journalize the semiannual interest payment and amortization of bond premium June 30, 2016. Journalize the semiannual interest payment and amortization of bond premium on December 31, 2016. Journalize the retirement of the bond at maturity. (Give the date.) Retiring bonds payable before maturity Parkview Magazine issued $690,000 of 15-year, 5% callable bonds payable on July 31, 2016 at 95. On July 31, 2019, Parkview called the bonds at 101. Assume annual interest payments. Requirements Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2019. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2019. No explanation is required. Reporting current and long-term liabilities Optical Dispensary borrowed $330,000 on January 2, 2016 by issuing a 15% serial bond payable that must be paid in three equal annual installments plus interest for the year. The first payment of principal and interest comes due January 2, 2017. missing information. Assume the bonds are issued at face value