Question
it OneDrive Homer Company bonowed money by issuing $4,500,000 of 5% bonds payable at 1012 on July 1.2021 The bonds are five-year bonds and
it OneDrive Homer Company bonowed money by issuing $4,500,000 of 5% bonds payable at 1012 on July 1.2021 The bonds are five-year bonds and pay interest each January 1 and July 1 Read the requirements 1. How much cash did Homer receive when it issued the bonds payable? Joumalce this transaction When & issued the bonds payabis, Homer received Joumalize the issuance of the bonds payable (Recond debits first, then credits Exdude explanations fons a Date Journal Entry Accounts 2. How much must Homer pay back at maturity? When is the maturity d At matuly Homer must pay back The maturity date is 3. How much cash intersal will Homer pay each six mo Every six months Homer will pay interest of 4. How much wast expense s December 31,2021 I payment of interest i January 1, 2022 Debit Credit Every six m Homer will port we expense of Joumalice the any for accrual of interest and amoration of decount on December 31, 2021 Record detits fest, than ouds Exclude expla Date Dc 31 Journal Entry Accounts Debit Credt d the amorization of premium on
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