On January 1, 2020, Marin Inc sold 10 bonds having a maturity value of $880,000 for $950,268, which provides the bondholders with a 8 yield The bonds are dated January 1, 2020, and mature on January 1, 2025, with interest payable on January 1 of each year The company follows IFRS and uses the effective interest method Prepare the journal entry at the date of issue (Round answers to 0 decimal places, e g 5,255 Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Date Account Titles and Explanation Debit Credit Jan 1, 2020 enter an account title for the journal entry on January 1 enter a debit amount enter a credit amount enter an account title for the journal entry on January 1 enter a debit amount enter a credit amount SHOW LIST OF ACCOUNTS Prepare a schedule of interest expense and bond amortization for 2020 through 2023 (Round answers to 0 decimal places, e g 5,275 ) Schedule of Interest Expense and Bond Premium Amortization Effective Interest Method Date Credit Cash Debit Interest Expense Debit Bonds Payable Carrying Amount of Bonds 1 1 20 $enter a dollar amount 1 1 21 $enter a dollar amount $enter a dollar amount $enter a dollar amount enter a dollar amount 1 1 22 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 1 1 23 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount SHOW LIST OF ACCOUNTS Prepare the journal entries to record the interest payment and the amortization for 2020 (Round answers to 0 decimal places, e g 5,275 Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Date Account Titles and Explanation Debit Credit Dec 31, 2020 enter an account title for the journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the journal entry on December 31 enter a debit amount enter a credit amount Jan 1, 2021 enter an account title for the journal entry on January 1 enter a debit amount enter a credit amount enter an account title for the journal entry on January 1 enter a debit amount enter a credit amount SHOW LIST OF ACCOUNTS Prepare the journal entries to record the interest payment and the amortization for 2022 (Round answers to 0 decimal places, e g 5,275 Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) SHOW LIST OF ACCOUNTS

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On January 1, 2020, Marin Inc. sold 10% bonds having a maturity value of $880,000 for $950,268, which provides the bondholders with a 8% yield.

On January 1, 2020, Marin Inc. sold 10% bonds having a maturity value of $880,000 for $950,268, which provides the bondholders with a 8% yield. The bonds are dated January 1, 2020, and mature on January 1, 2025, with interest payable on January 1 of each year. The company follows IFRS and uses the effective interest method.

Prepare the journal entry at the date of issue. (Round answers to 0 decimal places, e.g. 5,255. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2020	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount

SHOW LIST OF ACCOUNTS

Prepare a schedule of interest expense and bond amortization for 2020 through 2023. (Round answers to 0 decimal places, e.g. 5,275.)

Schedule of Interest Expense and Bond Premium Amortization Effective Interest Method
Date	Credit Cash	Debit Interest Expense	Debit Bonds Payable	Carrying Amount of Bonds
1/1/20				$enter a dollar amount
1/1/21	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	enter a dollar amount
1/1/22	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
1/1/23	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount

SHOW LIST OF ACCOUNTS

Prepare the journal entries to record the interest payment and the amortization for 2020. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
Jan. 1, 2021	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 1	enter a debit amount	enter a credit amount

SHOW LIST OF ACCOUNTS

Prepare the journal entries to record the interest payment and the amortization for 2022. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

SHOW LIST OF ACCOUNTS