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Just need help w part d!!! JUNE box (3,884) - bo View Policies Show Attempt History Current Attempt in Progress Pina Colada Corp. sold $3,300,000,4%,
Just need help w part d!!!
JUNE box (3,884) - bo View Policies Show Attempt History Current Attempt in Progress Pina Colada Corp. sold $3,300,000,4%, 10-year bonds on January 1, 2019. The bonds were dated January 1 and pay interest annually on January 1 Pina Colada Corp, uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan 1, 2019 Cash Premium on Bonds Payable 99000 Bonds Payable 3300000 e Textbook and Media List of Accounts P110 O 4 OGO- EU (b) Your answer is correct. Prepare a bond premium amortization schedule for the first 4 interest periods. Interest Expense to Be Recorded Interest to Be Paid Premium Amortization Unamortized Premium Bond Carrying Value 99000 3399000 132000 122100 9900 89100 3389100 122100 132000 9900 79200 3379200 132000 122100 69300 9900 3369300 122100 9900 59400 132000 3359400 eTextbook and Media List of Accounts Attempts: 1 of 4 used Your answer is correct. Prepare the journal entries for interest and the amortization of the premium in 2019 and 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Dec. 31, 2019 interest Expense 122100 Premium on Bonds Payable 9900 132000 Interest Payable 32000 Jan 1, 2020 Interest Payable 132000 Cash Dec. 31, 2020 Interest Expense Premium on Bonds Payable 132000 Interest Payable e Textbook and Media ... A LAUNCHPAD Tax Document Minbox (3,854) - bo.. (d) Show the balance sheet presentation of the bond liability at December 31, 2020. (Enter account name only and do not provide descriptive information.) Pina Colada Corp. Balance Sheet List of Accounts Attempts: 0 of 4 used Submit Answer Save for Later Your grade has been recorded in the Gradebook Step by Step Solution
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