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kindly fix the wrong ones which are in red. Check my work mode : This shows what is correct or incorrect for the work you
kindly fix the wrong ones which are in red.
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 6 Ret National Orthopedics Co. issued 8% bonds, dated January 1, with a face amount of $450,000 on January 1, 2018. The bonds mature on December 31, 2021 (4 years). For bonds of similar risk and maturity the market yield was 10 %. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 10 points Required: 1. Determine the price of the bonds at January 1, 2018. 2. Prepare the journal entry to record their issuance by National on 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2018. 5. Prepare the appropriate journal entries at maturity on December 31, 2021. January 1, 2018. C Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare an amortization schedule that determines interest at the effective rate each period. (Round final answers to the nearest whole dollar.) Semiannual Interest Period-End 01/01/2018 Carrying Value Discount Cash Interest Bond Interest Expense Amortization 06/30/2018 21.046 is 18,000 $ 3,046 pravided. Required: 1. Determine the price of the bonds at January 1, 2018. 2. Prepare the journal entry to record their issuance by National on January 1, 2018. 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2018. 5. Prepare the appropriate journal entries at maturity on December 31, 2021. 10 points Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare an amortization schedule that determines interest at the effective rate each period. (Round final answers to the nearest whole dollar.) Semiannual Interest Period-End Cash Interest Bond Interest Expense Discount Amortization Carrying Value 01/01/2018 06/30/2018 21,046 S 18,000 S 3,046 12/31/2018 21,198 18,000x) 3,198 3,198 06/30/2019 21,198 18.000x) (3.198) 12/31/2019 18.000 18.000 18,000 06/30/2020 18,000 18,000 36,000 12/31/2020 18,000 18,000 54.000 06/30/2021 18,000 18,000 72.000 Mc Graw Prev 6 of 13 Next > Return to question provided.) Required: 1. Determine the price of the bonds at January 1, 2018. 2. Prepare the journal entry to record their issuance by National on January 1, 2018. 3. Prepare an amortization schedule that determines interest at the effective rate each period. 4. Prepare the journal entry to record interest on June 30, 2018. 5. Prepare the appropriate journal entries at maturity on December 31, 2021. 10 points Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare the journal entry to record interest on June 30, 2018. (If nd entry is required for a transaction/event, select 'No journal entry required" in the first account field. Round final answers to the nearest whol dollar.) No Date General Journal Debit Credit 18.000 June 30, 2018 Interest expense 18,000 Cash
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