Exercise 9-2A Record installment notes (LO9-2) points On January 1, 2021, Tropical Paradise borrows $47,000 by agreeing to a 6%, six-year note with the bank. The funds will be used to purchase a new BMW convertible for use in promoting resort properties to potential customers. Loan payments of $778.93 are due at the end of each month with the first installment due on January 31, 2021. Required: Record the issuance of the installment note payable and the first two monthly payments. (Do not round intermediate calculations. Round your final answers to 2 decimal places. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete but not entirely correct. General Journal Debit Credit No 1 Date January 01, 2021 Cash Notes Payable 47,000.00 47,000.00 2 January 31, 2021 Interest Expense Notes Payable Cash 235.00 54,393.00 77,893.00 3 February 28, 2021 Interest Expense Notes Payable Cash 23,228.00 54,665.00 % 77,893.00 % Part 1 of 2 Required information Exercise 9-9A Record bonds issued at a premium and related semiannual interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2021, Splash City issues $490,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. points Skipped Assuming the market interest rate on the issue date is 7%, the bonds will issue at $535,061. eBook Exercise 9-9A Part 1 Hint Print Required: 1. Complete the first three rows of an amortization table. (Round your final answers to the nearest whole dollar.) References Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 1/1/21 6/30/21 12/31/21 On January 1, 2021, Splash City issues $490,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $535,061. Exercise 9-9A Part 2 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list View journal entry worksheet Debit Credit No 1 Date General Journal General Journal January 01, 2021 Cash Bonds Payable Premium on Bonds Payable 2 June 30, 2021 Interest Expense Premium on Bonds Payable Cash December 31, 2021 Interest Expense Premium on Bonds Payable Cash Part 1 of 2 Required information Problem 9-6A Prepare a bond amortization schedule and record transactions for the bond issuer (LO9-5) The following information applies to the questions displayed below. 1.5 points On January 1, 2021, Universe of Fun issues $720,000, 9% bonds that mature in 15 years. The market interest rate for bonds of similar risk and maturity is 10%, and the bonds issue for $664,659. Interest is paid semiannually on June 30 and December 31. Skipped eBook Problem 9-6A Part 1 Print References Required: 1. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Change in Cash Paid Interest Expense Carrying Value Carrying Value Carrying Value 1/1/2021 6/30/2021 12/31/2021 On January 1, 2021, Universe of Fun issues $720,000, 9% bonds that mature in 15 years. The market interest rate for bonds of similar risk and maturity is 10%, and the bonds issue for $664,659. Interest is paid semiannually on June 30 and December 31. Problem 9-6A Parts 2 & 3 2. & 3. Record the issuance of the bonds on January 1, the interest payments on June 30, and December 31, 2021. (If no journal entry is required for a particular transaction, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list View journal entry worksheet No Debit Credit Date General Journal January 01, 2021 No Transaction Recorded 1 1 2 June 30, 2021 June No Transaction Recorded December 31, 2021 No Transaction Recorded