Exercise 14 10 On January 1, 2017, Oriole Company sold 11 bonds having a maturity value of $470,000 for $487,816, which provides the bondholders with a 10 yield The bonds are dated January 1, 2017, and mature January 1, 2022, with interest payable December 31 of each year Oriole Company allocates interest and unamortized discount or premium on the effective interest basis Prepare the journal entry at the date of the bond issuance (Round answer to 0 decimal places, e g 38,548 If no entry is required, select No Entry for the account titles and enter 0 for the amounts Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit January 1, 2017 Show List of Accounts Link to Text Prepare a schedule of interest expense and bond amortization for 20172019 (Round answer to 0 decimal places, e g 38,548 ) Schedule of Interest Expense and Bond Premium Amortization Effective Interest Method Date Cash Paid Interest Expense Premium Amortized Carrying Amount of Bonds 1 1 17 $ $ $ $ 12 31 17 12 31 18 12 31 19 Show List of Accounts Link to Text Prepare the journal entry to record the interest payment and the amortization for 2017 (Round answer to 0 decimal places, e g 38,548 If no entry is required, select No Entry for the account titles and enter 0 for the amounts Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit December 31, 2017 Show List of Accounts Link to Text Prepare the journal entry to record the interest payment and the amortization for 2019 (Round answer to 0 decimal places, e g 38,548 If no entry is required, select No Entry for the account titles and enter 0 for the amounts Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit December 31, 2019 Click if you would like to Show Work for this question

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Exercise 14-10 On January 1, 2017, Oriole Company sold 11% bonds having a maturity value of $470,000 for $487,816, which provides the bondholders with a

Exercise 14-10

On January 1, 2017, Oriole Company sold 11% bonds having a maturity value of $470,000 for $487,816, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2017, and mature January 1, 2022, with interest payable December 31 of each year. Oriole Company allocates interest and unamortized discount or premium on the effective-interest basis.

Prepare the journal entry at the date of the bond issuance. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
January 1, 2017

Show List of Accounts
Link to Text

Prepare a schedule of interest expense and bond amortization for 20172019. (Round answer to 0 decimal places, e.g. 38,548.)

Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method
Date	Cash Paid	Interest Expense	Premium Amortized	Carrying Amount of Bonds
1/1/17	$	$	$	$
12/31/17
12/31/18
12/31/19

Show List of Accounts
Link to Text

Prepare the journal entry to record the interest payment and the amortization for 2017. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2017

Show List of Accounts
Link to Text

Prepare the journal entry to record the interest payment and the amortization for 2019. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)