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i dont know what im doing wrong No Date Debit Credit 1 January 01 General Journal Cash Bonds Payable Premium on Bonds Payable 516,513 470,000

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No Date Debit Credit 1 January 01 General Journal Cash Bonds Payable Premium on Bonds Payable 516,513 470,000 46,513 June 30 Interest Expense Premium on Bonds Payable Cash 20,660 % 489 20,171 3 December 31 Interest Expense Premium on Bonds Payable Cash 20,641 509 21.150 nyuru Illiurmation [The following information applies to the questions displayed below) On January 1, Year 1, a company issues $470,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year, Assuming the market interest rate on the issue date is 8%, the bonds will issue at $516,513 2. Record the bond issue on January 1. Year 1 and the first two semiannual interest payments on June 30, Year 1, and December 31 Year 1 (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) Answer is complete and correct. Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value $ 516,513 516,023 $ 21,150 $ 20,660 $ 1/1/Year 1 6/30/Year 1 12/31/Year 1 489 21,150 20,641 509 515,514

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