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having trouble with the debit and credit numbers. need help ASAP! thank you :) On January 1, 2021, Twister Enterprises, a manufacturer of a variety
having trouble with the debit and credit numbers. need help ASAP! thank you :)
On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $460,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. 2. If the market interest rate is 7%, the bonds will issue at $410,883. 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 answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 3 > Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Cash 410,883 49,117 Discount on Bonds Payable Bonds Payable 460,000 Journal entry worksheet 3 > N Record the first semiannual interest payment. Note: Enter debits before credits. Date Journal Debit Credit June 30, 2021 Interest Expense Discount on Bonds Payable 14,381 5,000 Cash 13,800 Journal entry worksheetStep by Step Solution
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