Journalize the entry to record the amoubt of casg proceeds from the issuance of the bonds on July 1, Year 1.

2 Online teachin x + nment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator&inprogress-false # eBook Calculator Print Item Bond Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions O Halloran Inc. produces and sells outdoor equipment on July 1 Year 1. Horan inc. issued $32,000,000 of year, 8% bonds at a market (effective) interest rate of 7%, rectlving cash of 533,546,022. Interest on the bonds is payable semiannually on December 31 and June 30. The focal year of the company is the calendar year Required: 1. Journal the entry to record the amount of cash proceeds from the ice of the bonds on July 1" 2. Journalize the entries to record the following a. The first semiannual interest payment on December 31 Year and the amortization of me and promoting the right in method Round to the nearest doilar, b. The interest payment on June 30, Your 2 and the motion of the band premium using the straight-line matro Round to the nearest dollar. 3. Determine the total interessen for et O 6 7 ent/take Assignment Main.do?invoker=&takeAssignmentSessionLocator &inprogress=false ok Calculator Print Item ond Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions Journal TASSEN Shaded cells have feedback JOURNAL Score: 37/37 ACCOUNTING EQUATRO DESCRIPTION PORTREE DELT ADSETS LILITIES DATE Jolt 1 Ch 33546.072.00 + 2 Premium on Bonds Payable 1.546.622.00 32.000.000.00 Bonds Payable 2a Jornate the entry to record the first semnal punt on December 31 Yeart and the amortization of the condemn the strane Refer to the chart of accounts for the exact wording of the account to CNOW um dos formacions Evy line on a journal page det or creators CNOW wachtwoord Mondeo berdoa O e 8 7 Book Calculator Print item Bond Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions Journal Shaded cells have feedback. X JOURNAL Scorer 28/37 ACCOUNTING EQUAT POST.EE DET CREDIT AUCTS MI DESCRIPTION Dec 31" Interest Expense Premium on Bonds Payable 1.174.110.77 72.301.00 3 2 Joumaise the entry to record the rest payment on June 30 Year 2. and the action of the bond promising me stragi metod Rewro me accounts for the exact wording of the account CHOWjums do not use for rent Ewy fine card for correct WWWAAA Rather e 9 8 G J K L B N M and Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions Journal Final Questions Shaded cells have feedback Shaded cells have feedback 3. Determine the total interest expense for Year 1. S Points 0/1 4. Will the bond proceeds always be greater than the face amount of the bonds when the contracte han he market rate of interest Yes NO Points 011 e 6 8 9 U TO J K K pause B N MS 2 Online teachin x + nment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator&inprogress-false # eBook Calculator Print Item Bond Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions O Halloran Inc. produces and sells outdoor equipment on July 1 Year 1. Horan inc. issued $32,000,000 of year, 8% bonds at a market (effective) interest rate of 7%, rectlving cash of 533,546,022. Interest on the bonds is payable semiannually on December 31 and June 30. The focal year of the company is the calendar year Required: 1. Journal the entry to record the amount of cash proceeds from the ice of the bonds on July 1" 2. Journalize the entries to record the following a. The first semiannual interest payment on December 31 Year and the amortization of me and promoting the right in method Round to the nearest doilar, b. The interest payment on June 30, Your 2 and the motion of the band premium using the straight-line matro Round to the nearest dollar. 3. Determine the total interessen for et O 6 7 ent/take Assignment Main.do?invoker=&takeAssignmentSessionLocator &inprogress=false ok Calculator Print Item ond Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions Journal TASSEN Shaded cells have feedback JOURNAL Score: 37/37 ACCOUNTING EQUATRO DESCRIPTION PORTREE DELT ADSETS LILITIES DATE Jolt 1 Ch 33546.072.00 + 2 Premium on Bonds Payable 1.546.622.00 32.000.000.00 Bonds Payable 2a Jornate the entry to record the first semnal punt on December 31 Yeart and the amortization of the condemn the strane Refer to the chart of accounts for the exact wording of the account to CNOW um dos formacions Evy line on a journal page det or creators CNOW wachtwoord Mondeo berdoa O e 8 7 Book Calculator Print item Bond Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions Journal Shaded cells have feedback. X JOURNAL Scorer 28/37 ACCOUNTING EQUAT POST.EE DET CREDIT AUCTS MI DESCRIPTION Dec 31" Interest Expense Premium on Bonds Payable 1.174.110.77 72.301.00 3 2 Joumaise the entry to record the rest payment on June 30 Year 2. and the action of the bond promising me stragi metod Rewro me accounts for the exact wording of the account CHOWjums do not use for rent Ewy fine card for correct WWWAAA Rather e 9 8 G J K L B N M and Premium, Entries for Bonds Payable Transactions Instructions Present Value Tables Chart of Accounts Journal Final Questions Instructions Journal Final Questions Shaded cells have feedback Shaded cells have feedback 3. Determine the total interest expense for Year 1. S Points 0/1 4. Will the bond proceeds always be greater than the face amount of the bonds when the contracte han he market rate of interest Yes NO Points 011 e 6 8 9 U TO J K K pause B N MS