On January 1, 2018, Splash City issues $410,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $450,576.

2. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Required: 1. Complete the first three rows of an amortization table. Interest Decrease in Expense Carrying Value Carrying Value Date Cash Paid 6/30'18 12/31 18 Hints References eBook & Resources Journal entry worksheet 2 3 Record the second semiannual interest payment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal

Question

On January 1, 2018, Splash City issues $410,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $450,576.

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2. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Required: 1. Complete the first three rows of an amortization table. Interest Decrease in Expense Carrying Value Carrying Value Date Cash Paid 6/30'18 12/31 18 Hints References eBook & Resources Journal entry worksheet 2 3 Record the second semiannual interest payment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal