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Exercise 14-10 The yellow cells in column F will indicate whether the amountis correct for Discounton Bonds Payable. Show your work below for calculating the
Exercise 14-10 The yellow cells in column F will indicate whether the amountis correct for Discounton Bonds Payable. Show your work below for calculating the amounts in each journal entry. National Orthopedics Co.issued 8% bonds, dated January 1, with a face amountof $950,000 on January 1, 2021. The bonds mature on December 31, 2024 (4 years). For bonds of similar risk and maturity the marketyield was 10%. Interestis paid semiannually on June 30 and December 31. . Prepare the necessary journal entries on the dates shown below. Issuance Debit Credit Date 1/1/21 Account Cash Discounton Bonds Payable Bonds Payable Debit Credit Interestexpense Date Account 6/30/21 Interest Expense Discounton Bonds Payable Cash Debit Credit Interestexpense Date Account 12/31/21 Interest Expense Discounton Bonds Payable Cash Debit Credit Interestexpense Date Account 6/30/22 Interest Expense Discounton Bonds Payable Cash Debit Credit Interestexpense Date Account 12/31/22 Interest Expense Discounton Bonds Payable Cash Debit Credit Interestexpense Date Account 6/30/23 Interest Expense Discounton Bonds Payable Cash Debit Credit Interestexpense Date Account 12/31/23 Interest Expense Discounton Bonds Payable Cash Debit Credit Interestexpense Date Account 6/30/24 Interest Expense Discounton Bonds Payable Cash Debit Credit Interestexpense Date Account 12/31/24 Interest Expense Discounton Bonds Payable Cash
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