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Fill in all blanks help needed Problem 10-11A On January 1, 2014, Jade Company issued $1,981,000 face value, 8%, 14 -year bonds at $2,349,267. This
Fill in all blanks help needed
Problem 10-11A On January 1, 2014, Jade Company issued $1,981,000 face value, 8%, 14 -year bonds at $2,349,267. This price resulted in a 6% effective -interest rate on the bonds. Jade uses the effective -interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1. Prepare the Journal entries to record the following transactions. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. The issuance of the bonds on January 1,2014. 2. Accrual of interest and amortization of the premium on December 31, 2014. 3. The payment of interest on January 1,2015. 4. Accrual of interest and amortization of the premium on December 31, 2015. Show the proper long-term liabilities balance sheet presentation for the liability for bonds payable at December 31, 2015. (Round answers too decimal places, e.g. 125.) JADE COMPANY lance Sheet (Partial) December 31 2015 s Provide the answers to the following questions. 1. What amount of interest expense is reported for 2015? (Round answer to 0 decimal places, e.g. 125.) Interest expense to be reported $ 2. The bond interest expense reported in 20:5 would be the amount that would be reported if the straight-line method of amortization were usedStep by Step Solution
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