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m 11-3A eBook Show Me How culator Chart of Accounts Journal Final Questions Instructions The following transactions were completed by Winklevoss Inc., whose fiscal year

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m 11-3A eBook Show Me How culator Chart of Accounts Journal Final Questions Instructions The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year Year 1 July 1 Issued S74.000.000 of 20-year, 11% callable bonds dated July 13%, receiving cash of S63532267 Interest is payable semiannually on December 31 and June 30 1. Year 1, at a market (effective) rate of Dec31 Paid the semiannual interest on the bonds The bond discount amortization of $261,693 is combined with the semiannual interest payment Closed the interest expense account 31 Year 2 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment 30 June Dec 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261.693 is combined with the semiannual interest payment 31 Closed the interest expense account Year 3 June 30 Retorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded. (Record the redemption only.) Required: 1. Journalize the entries to record the transactions Round all amounts to the nearest dollar Be sure to include the year in the date for the er Refer to the Chart of Accounts for exact wording of account tites 2. Indicate the amount of the interest expense in (a) Year 1 and tb) Year 2 3. Determine the carrying amount of the bonds as of December 31, Year2 Type here to search

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