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On January 1, 2021, a company issues $750,000 of 10% bonds, due in eight years, with interest payable semiannually on June 30 and December 31
On January 1, 2021, a company issues $750,000 of 10% bonds, due in eight years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 11%, the bonds will issue at $710,767. Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 2 3 > 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet Record the bond issue on January 1, 2021. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Record entry Clear entry Ylew general lournal
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