on January 1, 2018, technicians credit union issued 7% 20 year bonds payable with face value of $700,000. The moms pay interest on June 30 and December 31.

journalize the followinf transactions a-d

3 On January 1, 2018, Technicians Credit Union (TCU) issued 7%, 20-year bonds payable with face value of $700,000. The bonds pay interest on June 30 and December 31. Read the requirements Requirement 1. If the market interest rate is 6% when TCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain. The 7% bonds issued when the market interest rate is 6% will be priced at They are in this market, so Investors will pay to acquire them Requirement 2. If the market interest rate is 9% when TCU issues its bonds, will the bonds be priced at face value, at a premium, or at a discount? Explain The 7% bonds issued when the market interest rate is 9% will be priced at They are in this market, so investors will pay to acquire them Requirement 3. The issue price of the bonds is 97. Journalize the bond transactions. (Assume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry Round your answers to the nearest whole dollar) a. Journalize the issuance of the bonds on January 1, 2018. Date Accounts and Explanation Debit Credit 2018 b. Journalize the payment of interest and amortization on June 30, 2018 Date Accounts and Explanation Debit Credit 2018 Jun 30 c. Joumalize the payment of interest and amortization on December 31, 2018 Date Accounts and Explanation Debit Credit 2018 Dec 31 On January 1, 2018, Technicians Credit Union (TCU) issued 7%. 20-year bonds payable with face value of $7 June 30 and December 31. Read the requirements. Date Accounts and Explanation Debit Credit 2018 Dec 31 d. Retirement of the bond at maturity on December 31, 2037, assuming the last interest payment has already Date Accounts and Explanation Debit Credit 2037 Dec. 31 Bonds Payable Cash Discount on Bonds Payable Interest Expense Choose froi Premium on Bonds Payable ien continue to the next