On July 1, 2021. Coronado Satellites Corporation issued $1.700,000 of 10-year, 7% bonds to yield a market interest rate of 6%. The bonds pay semi-annual interest on July 1 and January 1 Coronado has a December 31 year end and records adjusting entries annually. Coronado received $1.826,465 when issuing the bonds. Click here to view the factor table, Your answer is partially correct. Prepare an amortization table through January 1, 2023 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, eg. 5,275) CORONADO SATELLITES CORPORATION Bond Premium Amortization Semi- annual interest Interest Expense to be Unamortized Semi- annual interest periods Interest Expense to be Recorded Unamortized Premium Interest to be paid Premium Amortization $ July 1/21 Jan. 1/22 $ 59500 $ 54793 4707 14948 59500 54652 July 1/22 54507 4993 59500 Jan. 1/23 Expense to be d Premium Amortization Unamortized Premium Bond Carrying Amount $ 126465 $ 1.826,465 54793 $ 4707 121758 1821758 54652 4848 116910 1816902 54507 4993 111917 1853266 Debit Credit Date Account Titles and Explanation 2021 July Cash 1 . 1.826,465 Bonds Payable 1,826,465 Prepare the adjusting entry on December 31, 2021, to accrue the interest on the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round all amounts to the nearest dollar, eg. 5,272) Debit Credit Date Account Titles and Explanation 2021 Dec. Interest Expense 31 54793 Bonds Payable 4707 Interest Payable 59500 Show the statement of financial position presentation of the liabilities at December 31, 2021. (Round all amounts to the nearest dollar, eg. 5,275.) CORONADO SATELLITES CORPORATION Statement of Financial Position (Partial) December 31, 2021 Current liabilities Interest Payable 59500 Non-current liabilities Bonds Payable 1821758 Record the payment of interest on January 1, 2022 and July 1, 2022. (Credit account titles are dutomatically indented when the amount is entered. Do not Indent manually. List all debit entries before credit entries. Round out amounts to the nearest dollar, es. 5,275.) Debit Credit Date Account Titles and Explanation 2022 Jan. Interest Payable 1 59500 Cash 59500 July 1 Interest Expense 54652 Bonds Payable 4848 Cash 59500 Prepare the adjusting entry on November 30, 2021, to accrue the interest on the bonds, assuming the company's year end was November 30, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round all amounts to the nearest dollar, eg. 5,275.) Debit Credit Date Account Titles and Explanation 2021 Nov. Interest Expense 30 Bonds Payable Interest Payable Record the payment of interest on January 1, 2022, assuming the company's year end was November 30. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round all amounts to the nearest dollar, e.g. 5,275.) Debit Credit Date Account Titles and Explanation 2022 Jan. interest Expense 1 Interest Payable Bonds Payable 59500 Cash
