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Exercise 10-6 Straight-Line: Recording bond issuance and discount amortization LO P2 Dobbs Company issues 7%, two-year bonds, on December 31, 2019, with a par value of $98,000 and semiannual interest payments. Semiannual Period-End (0) 12/31/2019 6/30/2020 (2) 12/31/2020 (3) 6/30/2021 12/31/2021 Unamortized Discount $5,960 4,470 2,980 1,490 0 Carrying Value $92,040 93,530 95,020 96,510 98,000 Use the above straight-line bond amortization table and prepare journal entries for the following. Required: (a) The issuance of bonds on December 31, 2019. (6) The first through fourth interest payments on each June 30 and December 31. (c) Record the maturity of the bonds on December 31, 2021. Complete this question by entering your answers in the tabs below. Required A Required B Required C The issuance of bonds on December 31, 2019. View transaction list View journal entry worksheet No Credit Date Dec 31, 2019 1 General Journal Cash Discount on bonds payable Bonds payable Debit 92,040 5,960 98,000 Required B Exercise 10-6 Straight-Line: Recording bond issuance and discount amortization LO P2 Dobbs Company issues 7%, two-year bonds, on December 31, 2019, with a par value of $98,000 and semiannual interest payments. Semiannual Period-End (0) 12/31/2019 6/30/2020 (2) 12/31/2020 (3) 6/30/2021 12/31/2021 Unamortized Discount $5,960 4,470 2,980 1,490 0 Carrying Value $92,040 93,530 95,020 96,510 98,000 Use the above straight-line bond amortization table and prepare journal entries for the following Required: (e) The issuance of bonds on December 31, 2019. (b) The first through fourth interest payments on each June 30 and December 31. (c) Record the maturity of the bonds on December 31, 2021, Complete this question by entering your answers in the tabs below. Required A Required B Required The first through fourth Interest payments on each June 30 and December 31. Debit Credit View transaction list View journal entry worksheet No Date General Journal Jun 30, 2020 Bond interest expense Discount on bonds payable Cash 1 Exercise 10-6 Straight-Line: Recording bona issuance and discount amortization LU P2 Dobbs Company issues 7%, two-year bonds, on December 31, 2019, with a par value of $98,000 and semiannual interest payments. (0) Semiannual Period-End 12/31/2019 6/30/2020 (2) 12/31/2020 (3) 6/30/2021 (4) 12/31/2021 Un amortized Discount $5,960 4.470 2,980 1,490 0 Carrying Value $92,040 93,530 95,020 96,510 98,000 Use the above straight-line bond amortization table and prepare journal entries for the following. Required: (a) The issuance of bonds on December 31, 2019. (b) The first through fourth interest payments on each June 30 and December 31. (c) Record the maturity of the bonds on December 31, 2021 Complete this question by entering your answers in the tabs below. Required A Required B Required C Record the maturity of the bonds on December 31, 2021. View transaction list Journal entry worksheet 1 Record the payment on maturity on December 31, 2021.
