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Help on this 3 part problem would be greatly appreicated. I included all the numbers below on the 4 pages. Required information [The following information
Help on this 3 part problem would be greatly appreicated. I included all the numbers below on the 4 pages. Required information [The following information applies to the questions displayed below.) Serotta Corporation is planning to issue bonds with a face value of $430,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective Interest amortization method and also uses a premium account. Assume an annual market rate of interest of 4 percent. (FV of $1. PV of $1. FVA of S1, and PVA of $0 (Use the appropriate factor(s) from the tables provided.) 1. Provide the journal entry to record the issuance of the bonds January 1, (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) View transaction list View journal entry worksheet No General Jounal Credit Date January 01 Debit 462,900 1 Cash Bonds payablo Bond premium 430,000 32,900 Serotta Corporation is planning to issue bonds with a face value of $430,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective interest amortization method and also uses a premium account. Assume an annual market rate of interest of 4 percent. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet Record the interest payment on September 30. Note: Enter debits before credits Debit Credit Date General Journal September 30 Interest expense Bond premium Cash 8,600 Record entry Clear entry View general Journal a Serotta Corporation is planning to issue bonds with a face value of $430,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and also uses a premium account. Assume an annual market rate of interest of 4 percent. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet
Help on this 3 part problem would be greatly appreicated. I included all the numbers below on the 4 pages.
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