On December 31, 2018, He don Corporation issues 6% 10-year convertible bonds payable with a face value of $1,000,000 The semiannual interest dates are June 30 and December 31, The market interest rate is 8%. Herndon amortizes bond discounts using the effective-interest method. Read the Requirement 1. Use the PV function in Excer to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar) The issue price of the bonds is $ Requirement 2. Prepare an effective-interest method amortization table for the first four semiannual interest periods. (Round your answers to the nearest whole dollar.) Herndon Corporation Choose from any list or enter any number in the input flelds and then continue to the next question. On December 31, 2018, Hemd n Corporation issues 6%, 10-year convertible bonds payable with a bee vain of $1,000.0 0. The se The market interest rato is 8%. Hemdon amortes bond discounts using the efective-merest method. annual rierest dates n June 30 and Den bar 31 Read the fequirements Requirement 2. Prepare an effective-interest method amortization table for the first four semiannual interest periods. (Round your answers to the nearest whole dolar.) Herndon Corporation Amortization Table DiscountDiscount Account Bond Carrying Interest Amount Interest Expense Balance Interest Date Payment Amortization On December 31, 2018, Hand n Corporation issues 6%, 10-year converttle bonds payable wth a face value of $1,0 The market interest rate is 8%. Herndon amortes bond discounts using the efect e-merest method 0 . The se anhal nterest dates am J e 30 and December 31 Read the feuremens nterest Date Paymentnterest Expense 12-31-2018 6-30-2019 12-31-2019 6-30-2020 12-31-2020 Choose from any list or enter any number in the input fields and then continue to the next question On December 31, 2018, Herndon Corporation issues 6%, 10year convertible bonds payable with a face vaue of SI The market interest rate is 8% Herndon amortizes bond discounts using the effective-interest method Read the fequrement .0 . The ser lannual interest dates are h ne 30 and Decent er 31 0 0 Requirement 3. Journalize the following transactions (Record debits first, then credits. Exclude explanations from al journal entries.) a. Recond the issuance of the bonds on December 31,2018.Credit Converible Bonds Payable. (Round your answers to the nearest whole doiar) Journal Entry Date Accounts Debit Credit 2018 Choose from any list or enter any number in the input flelds and then continue to the next queation On December 31, 2018, Hem don Corporation issues 6%, 10-year convertbe bonds payable with a face vaue of $1,000,000. The senian ual ine est dates are June 30 and December 31 The maret interest rate is 8%. Herndon amortizes bond dscounts using the effectiverterest m d Read the fequirements 2018 Dec 31 On December 31, 2018, Herndon Corporation issues 6%, 10-year on e title bonds payable with a ta n value of S1 The market interest rate is 8% Herndon amortizes bond discounts using the effective-interest method 00,000. The timare ar interest dats re J ne rdbeer best Read the fequirements b. Record the payment of interest and amortization of the bonds on June 30, 2019. (Round your answers to the nearest whole dolar) Journal Entry Date Accounts Debit Credit 2019 Jun30 Choose from any list or enter any number in the input fields and then continue to the next question 2 of 4 (1 complete) Y This Test: 100 pts possible On December 31, 2018, Hemdon Corporation issues 6%10-year convertble bonds payable with a face value of $1,000,000. The semiannual Interest dates are June 30 The market interest rate is 8% Herndon amortizes bond disoorts using the efective nterest method Read the fiesuiremerts e. Reoord the payment of interest and amortizaton of the bonds on December 31, 2019. (Round your answers to the rearest whole dollar.) Journal Entry Date Accounts Debi Credit 2010 31 Choose from any ist or enter any number in the Iinput fields and then continue to the next question on December 31, 2018, Herndon Corporation issns 6%, sornar convertie bends payabin wit atace wat d$1,000,000. The senar nal ite est dates are June 30 and December 31 The-arte' nterest rate is 8% Herndon annortzes bord dscounts usig to efecte-rte rest mind Read te equrement d. Record the conversion by the bondholders on July 1, 2000, of bonds with a total face value of $400,000 into 60,000 shares of Hemdon's $1-par common stlock (Round your answers to the nearest whole dolar) ted Jounal Entry Date Credit Debit 2020 Choose from any list or enter any number in the input fields and then continue to the next question This Quoestion: 2s pts On December 31, 2018, Herndon Corporation issues 6%, 10-year covertible bonds paya Tho market interest rate is 6%. Herndon anortzes bond dscouts using the effectve-interest method. Read the fequrement Requirement 4. Show how Hemdon would report the remaining bonds payable on its balance sheet at December 31, 2020. (Calculate the discount by multiplying the discount calculated in the orlginal amortization table by the fraction of bonds remaining. Round your answers to the nearest whole dollar) Harndon Corporation Partial Balance Sheet December 31, 2020 Choose from any list or enter any number in the input flelids and then continue to the next question. his Test: 100 pts possible On December 31, 2018, Hemd n Corporation issues 6%, 10-year co wertible bonds payable with a face value of S1 000 The market interest rate is 8%. Herndon amortzes bond discounts using the effective-imerest meod 0. The semiannual interest dates are June 30 and December 3t Read the fequremens Herndon Corporation Partial Balance Sheet Decamber 31,2020 Less: Choose from any list or enter any number in the input fields and then continue to the next question Ch -12 Time Remaining: 02:12 2 of 4 (1 complete) pts This Test: Requirements 18, Hemdon te is 8%. He are June 30 ar 1. Use the PV function in Exce to calculate the issue price of the bonds. 2. Prepare an effective-interest method amortization table for the first four semiannual interest periods 3. Journalize the following transactions a. Issuance of the bonds on December 31, 2018. Credit Convertible Bonds Payable. b. Payment of interest and amortization of the bond discount on June 30, 2019. c. Payment of interest and amortization of the bond discount on December 31, 2019. d. Conversion by the bondholders on July 1. 2020, of bonds with a total face value of $400,000 into 60,000 shares of Herndon's $1-par common stock. or enter any Print Done