On January 1, 2021, Darnell Window and Pane issued $20.0 million of 10-year, zero-coupon bonds for $7,710,866. (FV of $1. PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 2. Determine the effective rate of interest. 1. & 3. to 5. Prepare the necessary journal entries. Complete this question by entering your answers in the tabs below. Interest rate General Journal Determine the effective rate of interest. Interest rate % Wk 3 - Apply: Current and Long-Term Liabilities (due Day 7 ( Saved FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 6 Required: 2. Determine the effective rate of interest. 1. & 3. to 5. Prepare the necessary journal entries. Complete this question by entering your answers in the tabs below. 9.37 points Interest rate General Journal Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermedaite calculations and final answers to nearest whole dollar.) View transaction list Journal entry worksheet Record the issuance of the bonds. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Record entry Clear entry View general journal Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermedaite calculations and final answers to nearest whole dollar.) View transaction list Journal entry worksheet 1 2 3 > Record annual interest expense at December 31, 2021. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Interest rate General Journal Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermedaite calculations and final answers to nearest whole dollar.) View transaction list Journal entry worksheet Record the payment at the bonds' maturity. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2030 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Interest rate General Journal Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermedaite calculations and final answers to nearest whole dollar.) View transaction list Journal entry worksheet Record the payment at the bonds' maturity. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2030 Record entry Clear entry View general journal
