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i need help with part C!!! On January 1, 2022. Bramble Corporation issued $1.620,000 face value, 7%, 10-year bonds at $1.511,296. This price resulted in
i need help with part C!!!
On January 1, 2022. Bramble Corporation issued $1.620,000 face value, 7%, 10-year bonds at $1.511,296. This price resulted in an effective interest rate of 8% on the bonds. Bramble uses the effective interest method to amortize bond premium or discount. The bonds pay annual interest January 1 (a) Your answer has been saved. See score details after the due date. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Round answers to decimal places, eg, 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation 1511296 Jan. 1 Cash 108704 Discount on Bonds Payable 1620000 Bonds Payable Prepare an amortization table through December 31, 2024 (three interest periods) for this bond issue. (Round answers to o decimal places, e. 125.) BRAMBLE CORP Bond Discount Amortization Effective Interest Method - Annual Interest Payments Annual Interest Periods Interest to Be Pald Interest Expense to Be Recorded Discount Amortization Unamortized Discount $ 2002 Issue $ date 7504 1012 120004 1 113400 8104 930 121504 2 113000 8752 843 122152 113400 3 (c) Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2022. Round answers to O decimal places, s. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Credit Debit Account Titles and Explanation Dec. 31 Step by Step Solution
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