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Need help filling in the blank. Have accounts correct but keep getting amount incorrect. ACC 112 Project 1D Your answer is partially correct. Try again.

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Need help filling in the blank. Have accounts correct but keep getting amount incorrect.

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ACC 112 Project 1D Your answer is partially correct. Try again. Nicholas Ram Corporation have a $1,500,000 "bond issue" dated March 1, 2016 due in 15 years with an annual interest rate of 6%. Interest is payable March 1 and September 1. On August 1, 2016, the bond was sold for $1,578,750 plus accrued interest. Using the straight-line method, prepare the general journal entries for each of the following: a) The issuance of the bond on August 1, 2016. b) Payment of the semi-annual interest and the amortization of the premium on September 1, 2016. ) Accrual of the interest and the amortization of the premium on December 31, 2016. d) Payment of the semi-annual interest and the amortization of the premium on March 1, 2017. Date Account Titles and Explanation Debi Credit 2016 Aug. 1 Cash 1616250 Premuim on Bonds Payable 78750 Bond Interest Payable (37500 Bonds Payable 1500000 Sept. 1 Bond Interest Expense Premuim on Bonds Payable Bond Interest Payable (37500 Tcash Dec. 31 (Bond Interest Expense [Premuim on Bonds Payable Bond Interest Payable 2017 Mar. 1-Bond Interest Expense Premuim on Bonds Payable Bond Interest Payable icash 745000 Your answer is partially correct. Try again. Stephanie Ram Corporation have a $1,180,000 "bond issue" dated February 1, 2016 due in 10 years with an annual interest rate of 15%. Interest is payable February 1 and August 1. On April 1, 2016, the bond was sold for $1,097,400 plus accrued interest. Using the straight-line method, prepare the general journal entries for each of the following: a) The issuance of the bond on April 1, 2016. b) Payment of the semi-annual interest and the amortization of the discount on August 1, 2016. c) Accrual of the interest and the amortization of the discount on December 31, 2016. d) Payment of the semi-annual interest and the amortization of the discount on February 1, 2017. Date Account Titles and Explanation Debit Credit 2016 Apr. 1 Cash 1 126900 Discount on Bonds Payable 182600 Bonds Payable 1180000 Bond Interest Payable 29500 Aug. 1 Bond Interest Expense Bond Interest Payable 29500 Discount on Bonds Payable jcash Dec. 31 Bond Interest Expense Bond Interest Payable [Discount on Bonds Payable 2017 Feb. 1 (Bond Interest Expense Bond Interest Payable Discount on Bonds Payable Cash

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