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On January 1,2024 , Water Mania issues issues $2,100,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December
On January 1,2024 , Water Mania issues issues $2,100,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1. If the market interest rate is 8%, the bonds will issue at $2,100,000. Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. 2. If the market interest rate is 9%, the bonds will issue at $1,928,967. Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. 3. If the market interest rate is 7%, the bonds will issue at $2,293,116. Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. Complete this question by entering your answers in the tabs below. If the market interest rate is 8%, the bonds will issue at $2,100,000. Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
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