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On January 1, 2020, Nash Company purchased 12% bonds having a maturity value of $350,000, for $376,535.16. The bonds provide the bancholders with a 10%
On January 1, 2020, Nash Company purchased 12% bonds having a maturity value of $350,000, for $376,535.16. The bonds provide the bancholders with a 10% yieldi. They are dated January 1, 2020, and nature January 1, 2025, with interest received on January 1 of each year. Nash Company uses the effective interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-matunty category Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places. c.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Jan. 1.2020 cTextbook and Media List of Accounts Pregere a bund amortization schedule. (Round answers to 2 decimal places, eg. 2525.25. Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Date Cash Received Interest Revenue Premium Amortized Carrying Amount of Bonds 1/1/20 $ 1/1/21 1/1/22 1/1/23 1/1/24 1/1/25 e Textbook and Media List of Accounts Prepare the journal entry lorecord the interest revenue and the amortizational December 31, 2020. (Round answers to 2 decimal places, eg. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Date Account Titles and Explanation Debit Credit Dec 31, 2020 e Textbook and Media List of Accounts Prepare the journal entry to record the interest revenue and the amortization at December 31, 2021. (Round answers to 2 decimal places, c3 2.525.25. Cradit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required select "No Entry for the account Lilies and enter for the amounts. Date Account Titles and Explanation Debit Credit Dec 31 2021
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