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Only need help with 1 part. How to calculate interest expense. Please help asap will upvote!! Review the following transactions of Lamothe Communications, Inc.: (Click
Only need help with 1 part. How to calculate interest expense. Please help asap will upvote!!
Review the following transactions of Lamothe Communications, Inc.: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions of Lamothe Communications Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) January 1, 2018: Issued $3,000,000 of 6%, 10-year bonds payable at 96. Interest payment dates are July 1 and January 1. Journal Entry Date Accounts Debit Credit 2018 Jan 1 Cash 2880000 120000 Discount on Bonds Payable Bonds Payable 3000000 July 1, 2018: Paid semiannual interest and amortized bond discount by the straight-line method on the 6% bonds payable. Journal Entry Choose from any list or enter any number in the input fields and then continue to the next question. ? Review the following transactions of Lamothe Communications, Inc.: i (Click the icon to view the transactions.) Read the requirements. Journal Entry Date 2018 Accounts Debit Credit Jul 1 Interest Expense Discount on Bonds Payable Cash December 31, 2018: Accrued semiannual interest expense and amortized bond discount by the straight-line method on the 6% bonds payable. Review the following transactions of Lamothe Communications, Inc.: (Click the icon to view the transactions.) Read the requirements. i More Info - Journal En Date 2018 Accounts 2018 Jan 1 Dec 31 Jul 1 Issued $3,000,000 of 6%, 10-year bonds payable at 96. Interest payment dates are July 1 and January 1. Paid semiannual interest and amortized bond discount by the straight-line method on the 6% bonds payable. Accrued semiannual interest expense and amortized the bond discount by the straight-line method on the 6% bonds payable. Dec 31 January 1, 2019: Paid semiannual interest. 2019 Jan 1 Paid semiannual interest. Journal Entry 2028 Date Accounts Jan 1 Paid the 6% bonds at maturity. 2019 Jan 1 Print Done Choose from any list or enter any number in the input fields and then continue to the nextStep by Step Solution
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