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Johnny's Hamburgers issued 8%, 10-year bonds payable at 80 on December 31, 2016 At December 31, 2018, Jahnny reported the bonds payable as t
Johnny's Hamburgers issued 8%, 10-year bonds payable at 80 on December 31, 2016 At December 31, 2018, Jahnny reported the bonds payable as t (Click the icon to view the bonds payable) Johnny's pays semiannual interest each June 30 and December 31 (Assume bonds payable are amortized using the straight line a Read the teemanta Requirement 1. Answer the following questions about Johnny's bonds payable a. What is the maturity value of the bonds? $500000 b. What is the carrying amount of the bonds at December 31, 2018 42000 c. What is the semiannual cash Interest payment on the bonds? $20000 d. How much interest expense should the company record each year? 50.000 Requirement 2. Record the June 30, 2018 semiannual interest payment and amortization of the discounted Date 2018 Accounts and Explanation Inderest Expense Jun 30 Discount on fonds Payable Cash Debit Crede Pombr 027
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