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hello, I need help with the amounts number please thank you Campbell Inc produces and sels outdoor equipment On July 1 Year 1 Campbell issued
hello, I need help with the amounts number please thank you
Campbell Inc produces and sels outdoor equipment On July 1 Year 1 Campbell issued $11 300,000 of 10-year 12% bonds at a market (effective) interest rate of 10%, receiving cash of $12,708,235 Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year Round to the nearest dollar) to the Chart of Accounts for exact wording of account tities t of CHART OF ACCOUNTS Campbell, Inc. General Ledger ASSETS REVE NUE 410 Sales 610 Interest Revenue 611 Gain on Redemption of Bonds 121 Accounts Receivable EXPENSES 126 Interest Receivable 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 521 Sales Salaries Expense 127 Notes Receivable -141 Office Supplies 142 Store Supplies 37 38 41 92 193 94 195 210 22 201 22 201 201 202 201 of 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payable 711 Loss on Redemption of Bonds EQUITY 311 Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-in Capital from Sale of Treasury Stock 340 Retained Earnings 352 Stock Dividends 390 Income Summary the of the bonds of the bond premium, using the interest method. (Round to the nearest dolar) Score: 65/75 11,300,000.00 9:49 PM a3/2/2019 t of 11,300,000.00 the entry to record the interest payment on June 30, Year 2 and the 2b. Journalize the entry to record the interest payment on June 30, Year 2, and the amortization of the bond premium, using the interest method (Round to the nearest dollar) PAGE 10 Score: 33/37 ACCOUNTING EQUATION POST. REF. CREDIT un. 30 Interest Expense Cash 678.000.00 of Accounts Journal Final Question Final Question 3. Determine the total interest expense for Year 1 5635.411 XStep by Step Solution
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