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How do you calculate the answer for part d.? Do Homework - Chapter 11 & 12 practice homework - Google Chrome mathxl.com/Student/PlayerHomework.aspx?homeworkid=603239423&questionld=1&flushed=false&cld=6590226¢erwin=yes ACC 102 B2
How do you calculate the answer for part d.?
Do Homework - Chapter 11 & 12 practice homework - Google Chrome mathxl.com/Student/PlayerHomework.aspx?homeworkid=603239423&questionld=1&flushed=false&cld=6590226¢erwin=yes ACC 102 B2 FA21 (1) Homework: Chapter 11 & 12 practice homework Question 10, PF12-33A (... HW Score: 92.42%, 9.24 of 10 points Part 5 of 5 Points: 0.91 of 1 Baxter's Hamburgers issued 9%, 10-year bonds payable at 75 on December 31, 2024. At December 31, 2026, Baxter reported the bonds payable as follows Baxter's pays semiannual interest each June 30 and December 31. (Ass (Click the icon to view the bonds payable.) straight-line amortization method.) Read the requirements Requirement 1. Answer the following questions about Baxter's bonds payable: a. What is the maturity value of the bonds? $ 400,000 b. What is the carrying amount of the bonds at December 31, 2026? $ 320,000 c. What is the semiannual cash interest payment on the bonds? $ 18,000 How much interest expense should the company record each year? $ 46,000 Requirement 2. Record the June 30, 2026, semiannual interest payment and amortization of discount. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit - X 2026 Data table Jun. 30 Interest Expense 23,000 Discount on Bonds Payable 5,000 Cash 18,000 Long-term Liabilities Bonds Payable $ 400,000 Less: Discount on Bonds Payable 80,000) $ 320,000 Paid semiannual interest and amortized discount. Print Done Help me solve this Demodocs example Get more helpStep by Step Solution
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