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Mellilo Corporation issued $5,900,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98. Interest is due on June 30 and December 31 of
Mellilo Corporation issued $5,900,000 of 20-year, 9.5 percent bonds on July 1, 2013, at 98. Interest is due on June 30 and December 31 of each year, and all of the bonds in the issue mature on June 30, 2033. Mellilo's financial year ends on December 31. Prepare the following journal entries: a. Prepare the journal entry at July 1, 2013, to record the issuance of the bonds. (Omit the "$" sign in your response.) Debit Credit Date July 1, 2013 General Journal (Click to select) (Click to select) (Click to select) b. Prepare the journal entry at December 31, 2013, to pay interest and amortize the bond discount. (Omit the "$" sign in your response.) Debit credit Date Dec 31, 2013 General Journal (Click to select) (Click to select) (Click to select) c. Prepare the journal entry at June 30, 2033, to pay interest, amortize the bond discount, and retire the bonds at maturity. (Omit the "S" sign in your response.) Debit Date June 30, 2033 General Journal (Click to select) (Click to select) (Click to select) June 30, 2033 (Click to select) (Click to select) On November 1, Year 1 Noble CD borrowed $136.000 from South Park and signeria 17% sbi-month note payabic, all duc at maturity The Interest on this loan is stated separately 10. Required information 3.00 points How much must Noble pay South Bank on May 1, Year 2 when the note matures? 5136.000 S140080 S144,160. S152,320 11. Required information 3.00 points How much theresi externe will Noul rec e on the hole In Year 2? OOOO $16.320 $4.080. 58,160. 55.440 12. Required information 300 points Ar December 31 Year 1. Noble Co.'s overall liabilty for this loan amounts to OOO S125.000 S139720 S141.440 S144,160. 11. Required information 3.00 points How much i st einense wil Nobic recognize on this note in Year 27 O 516,320. 5400 58,160 O $5,440. 12. Required information 3.00 points At December 31, Year 1. Noble Co.s overall liability for this loan amounts to O S136.000 $138,720. S111,110. S144,160 13. Required information 2.00 points At December 31, Year 1. the adjusung entry with respect to this note includes a O O Credit to Interest Payable for $2,720. Credit to Noles Payable for $2.720. O Debit to Interest Expense for $5.440 Credit to Cash for $5,440. 220 MEGA sed
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