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Hello, I am having some trouble calculating the correct answers for the ones marked incorrect in the following question. Xonic Corporation issued $8.4 million of
Hello, I am having some trouble calculating the correct answers for the ones marked incorrect in the following question.
Xonic Corporation issued $8.4 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonic's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries after the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars.) Credit 8 Answer is not complete. No Date General Journal |Apr 01, 2018 Cash Premium on bonds payable Bonds payable Debit 8,568,000 168,000 8,400,000 Sep 30, 2018 Bond interest expense Premium on bonds payable Cash 330,4008 5,600 8 336,000 O Mar 31, 2038 Bond interest expense Premium on bonds payable Cash 336,000 8 Mar 31, 2038 8,400,000 Bonds payable Cash 8,400,000Step by Step Solution
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