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help with h n2 Bond Issue A (A) Cash (B) Period Interest Interest Paid Expense Period $750,000 x (E) * 5.0% 6.0% 6/12 6/12 Ending
help with h n2
Bond Issue A (A) Cash (B) Period Interest Interest Paid Expense Period $750,000 x (E) * 5.0% 6.0% 6/12 6/12 Ending (A) (B) June 1/20 Dec. $ 22,500 $ 20,096 $ 2,404 1/20 E : Dec. 22,500 19,266 3,234 1/26 June 22,500 19,186 3,314 1/27 Dec. 22,500 19,103 3,397 1/27 June 22,500 19,018 3,482 1/28 Dec. 22,500 18,931 3,569 1/28 June 22,500 18,839 3,661 1/29 Totals $405,000 $351,175 $53,825 *Adjusted for rounding (C) Amort. - (E) Carrying Value Unamortized $750,000 + (D) Balance (D) $53,825 $803,825 51,421 801,421 E : 17,423 767,423 14,109 764,109 10,712 760,712 7,230 757,230 3,661 753,661 750,000 Return h. Independent of (a) through (g), assume bond A issues were retired on December 1, 2027, at 97. Record the entries Answer is not complete. No Date Debit Credit December 01, 202 Bond interest expense 12,735 Premium on bonds payable 2,265 Interest payable 7,500 Cash December 01, 202 Bonds payable 750,000 Premium on bonds payable 10,712 Gain on retirement of bonds 48,212 Cash 1 2 General Journal 1000 1000 22,500 712,500 Step by Step Solution
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