Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the final interest payment and amortize bond discount. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2038 Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record second monthly installment on mortgage payable. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required A Required B Required C Will monthly interest increase, decrease, or stay the same over the life of the loan? Monthly interest will over the life of the loan Xonic Corporation issued $8.4 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonic's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries after the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars.) View transaction list Journal entry worksheet Record the issuance of bonds. Note: Enter debits before credits Date General Journal Debit Credit Apr 01, 2018 Journal entry worksheet Record the bond interest and amortize bond premium. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30, 2018 Record entry Clear entry View general journal Journal entry worksheet Record the final interest payment and amortize bond premium. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 2038 Record entry Clear entry View general journal Journal entry worksheet Record the retirement of the bonds. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 2038 Record entry Clear entry View general journal Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of bonds. Note: Enter debits before credits. Date General Journal Debit Credit July 01, 2018 Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the payment of interest and amortize bond discount. Note: Enter debits before credits. General Journal Debit Credit Date Dec.31, 2018 Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the final interest payment and amortize bond discount. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2038 Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record second monthly installment on mortgage payable. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required A Required B Required C Will monthly interest increase, decrease, or stay the same over the life of the loan? Monthly interest will over the life of the loan Xonic Corporation issued $8.4 million of 20-year, 8 percent bonds on April 1, 2018, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2038. Xonic's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries after the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars.) View transaction list Journal entry worksheet Record the issuance of bonds. Note: Enter debits before credits Date General Journal Debit Credit Apr 01, 2018 Journal entry worksheet Record the bond interest and amortize bond premium. Note: Enter debits before credits. Date General Journal Debit Credit Sep 30, 2018 Record entry Clear entry View general journal Journal entry worksheet Record the final interest payment and amortize bond premium. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 2038 Record entry Clear entry View general journal Journal entry worksheet Record the retirement of the bonds. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 2038 Record entry Clear entry View general journal Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of bonds. Note: Enter debits before credits. Date General Journal Debit Credit July 01, 2018 Mellilo Corporation issued $4,300,000 of 20-year, 9.5 percent bonds on July 1, 2018, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2038. Mellilo's fiscal year ends on December 31. a-c. Record the issuance of the bonds and entries to be passed post the issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the payment of interest and amortize bond discount. Note: Enter debits before credits. General Journal Debit Credit Date Dec.31, 2018
