issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. % will be pri quire t Requirements X CU issues % will be uire ti lebits nalize the ole dollar.) 24. 1. If the market interest rate is 5% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. 2. If the market interest rate is 8% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. 3. The issue price of the bonds is 98. Journalize the following bond transactions: a. Issuance of the bonds on January 1, 2024. b. Payment of interest and amortization on June 30, 2024. c. Payment of interest and amortization on December 31, 2024. d. Retirement of the bond at maturity on December 31, 2043, assuming the last interest payment has already been recorded. Print Done June 30, 2024. On January 1, 2024, Neighborhood Credit Union (NCU) issued 6%, 20-year bonds payable with face value of $300,000. The bonds pay interest on June 30 and December 31. Read the requirements. Requirement 1. If the market interest rate is 5% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 6% bonds issued when the market interest rate is 5% will Requirements acquire them. Requirement 2. If the market interest rate is 8% when NCU is The 6% bonds issued when the market interest rate is 8% will 1. acquire them. brd debits first, then credits. Select explanations on the last line of Requirement 3. The issue price of the bonds is 98. Journalize the journal entry. Round your answers to the nearest whole do 2. a. Journalize the issuance of the bonds on January 1, 2024. 3. If the market interest rate is 5% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. If the market interest rate is 8% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The issue price of the bonds is 98. Journalize the following bond transactions: Issuance of the bonds on January 1, 2024. b. Payment of interest and amortization on June 30, 2024. c. Payment of interest and amortization on December 31, 2024. d. Retirement of the bond at maturity on December 31, 2043, assuming the last interest payment has already been recorded. a. Date Accounts and Explanation 2024 Jan. 1 Print Done b. Journalize the payment of interest and amortization on June 30, 2024. Date Accounts and Explanation Debit Credit 2024 Choose from any list or enter any number in the input fields and then continue to the next question. ? On January 1, 2024, Neighborhood Credit Union (NCU) issued 6%, 20-year bonds payable with face value of $300,000. The bonds pay interest on June 30 and December 31. Read the requirements. Requirement 1. If the market interest rate is 5% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 6% bonds issued when the market interest rate is 5% will be priced at They are v in this market, so investors will pay to acquire them. Requirement 2. If the market interest rate is 8% when NCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 6% bonds issued when the market interest rate is 8% will be priced at V. They are in this market, so investors will pay to acquire them. Requirement 3. The issue price of the bonds is 98. Journalize the bond transactions. (Assume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.) a. Journalize the issuance of the bonds on January 1, 2024. Date Accounts and Explanation Debit Credit 2024 Jan. 1 b. Journalize the payment of interest and amortization on June 30, 2024. Date Accounts and Explanation Debit Credit 2024 Choose from any list or enter any number in the input fields and then continue to the next question. ? On January 1, 2024, Neighborhood Credit Union (NCU) issued 6%, 20-year bonds payable with face value of $300,000. The bonds pay interest on June 30 and December 31. Read the requirements. b. Journalize the payment of interest and amortization on June 30, 2024. Date Accounts and Explanation Debit Credit 2024 Jun. 30 C. Journalize the payment of interest and amortization on December 31, 2024. Date Accounts and Explanation Debit Credit 2024 Dec. 31 d. Retirement of the bond at maturity on December 31, 2043, assuming the last interest payment has already been recorded. Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. On January 1, 2024, Neighborhood Credit Union (NCU) issued 6%, 20-year bonds payable with face value of $300,000. The bonds pay interest on June 30 and December 31. Read the requirements. c. Journalize the payment of interest and amortization on December 31, 2024. Date Accounts and Explanation Debit Credit 2024 Dec. 31 d. Retirement of the bond at maturity on December 31, 2043, assuming the last interest payment has already been recorded. Date Accounts and Explanation Debit Credit 2043 Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next
