only need to answer 3-5 please
-%20Chapter%2012-1%20(1).pdf gn Netflix connectMLS 63% + All rights reserved Dr. Robert R. McWhorter-Managerial Accounting Chapter 12 Requirement foumalize the first payment on 31 Goral Journal Account Name Debic Ond 323 Mortes Favable 2344 Cash Requirement&eumale the second payment on Feb. 28 Geral Journal Account Name Deta 326 2341 Interest Expens Cash Homework 2 On June 30, Tower Companys 8%, 20 year bonds payable with a face amount of $100,000. The bonds are issued at 55 this h great to given the 92% number indead of having to use the table to arrive at the bove/sales price) and require interest payments on June 30 and 31 Requirement 1: Journace the ance of the bonds en une 30 de a description Geveral Jurnal Account Name Dos Crode 95,000 100,000 interest and annuation of the bord une Requirement 2: Journal the sen December 31. Onde and Soul AN O Cil Exp 4325 #tv MacBook Air FA Ben Ebe and bowls at a * F7 DII F8 A 11 DD F9 -HOMEWORK ASSIGNMENT- Students should complete most or all of the work in this area. The Homework Quiz will ask questions about this Homework. Notice that selected correct amounts are shown. They are to be used as "check numbers" so you can know that you are on the right track. Homework Quiz question numbers are shown in Green followed by a box representing the location of the missing text and/or amount. Below, the 1.. indicates that the first question on the Quiz will ask about what goes in the box. The correct answer for question 1. on the Homework Quiz is Building. (yes, spelling matters) If the question is asking about an amount, then answer the question with the amount of money, always use commas where appropriate, like 1,000, not 1000, but do NOT use the S sign or any decimal point (just round to the nearest dollar) unless it is spefically asked for in the question. Below, the 23 indicates the second question. The correct answer for question 2 on the Homework Quiz is 823 Homework 1 The San Pedro Company purchased a building and land with a fair market value (purchase price) of $625,000 (building $400,000 and land $225,000 on Jan. 1, 2019. San Pedro signed a 30-year, 4.5% mortgage payable note. San Pedro is to make monthly payments of $3,167 (given, no need to calc using table). Requirement 1: Journalize the note issuance on Jan. 1, 2019 (explanations are not required) General Journal Account Name. Debit Credit. 400.000 Land 225.000 Requirement 2: Prepare an amortization schedule for the first two payments. Ending Beginning Principal Bal. Principal Each Month Beg. Prin. Bal x 4.5% Payment Interest Rate/12-Interest Exp. Total Payment Principal Mth Jan 1 625,000 2,344 Jan 31 625,000 2 3,167 624,177 623,350 Feb 28 Requirement 3: Journalize the first payment on Jan 31. Account Name. Debit Credit Mortgage Payable 823 2.344 Cash Requirement 4: Journalize the second payment on Feb. 28. General Journal Account Name Credit Debit 826 Interest Expense Cash 2.341 Homework 2 On June 30, Tower Company issues 8%, 20-year bonds payable with a face amount of $100,000. The bonds are issued at 95 (this is great to given the 95% number instead of having to use the tables to arrive at the issue/sales price) and require interest payments on June 30 and Dec. 31. Requirement 1: Journalize the issuance of the bonds on June 30. (include a description) General Journal Account Name Debit Credit Cash 95,000 5.000 Bonds Pavable 100.000 Issued bonds at a Requirement 2: Journalize the semiannual interest payment and amortization of the bond discount on December 31. (include a description) General Journal Account Name. Debit Credit 4.125 Interest Expense Cash General Journal
