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I think my journals are right, I just need help with the inputs! On January 1, 2021, Twister Enterprises, a manufacturer of a variety of
I think my journals are right, I just need help with the inputs!
On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $460,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. 3. If the market interest rate is 5%, the bonds will issue at $517,736. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 2 3 > Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Cash 517,736 57,736 Bonds Payable Premium on Bonds Payable 460,000 Journal entry worksheet Record the second semiannual interest payment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Interest Expense Premium on Bonds Payable CashStep by Step Solution
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