P10-7 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 (The following information applies to the questions displayed below) Claire Corporation is planning to issue bonds with a face value of $110,000 and a coupon rate of 6 percent. The bonds mature in two years and pay Interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8 percent. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) P10-7 Part 2 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (1f no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet 2 Record the interest payment on March 31. Note: Enter debits before credits Date March 31 Debit Credit General Journal Interest expense Bond discount Cash Required information P10-7 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 [The following information applies to the questions displayed below.) Claire Corporation is planning to Issue bonds with a face value of $110,000 and a coupon rate of 6 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8 percent. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) P10-7 Part 2 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (1f no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet 2 4 Record the interest payment on June 30. Note: Enter debits before credits. General Journal Debit Credit Date June 30 Required information P10-7 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 [The following information applies to the questions displayed below) Claire Corporation is planning to issue bonds with a face value of $110,000 and a coupon rate of 6 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30. September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8 percent (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) P10-7 Part 2 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) View transaction lit Journal entry worksheet 2 3 4 Record the interest payment on September 30. Note Enter debts before credits General Journal Debit Credit Date September 30 Required information P10-7 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) L010-4 (The following information applies to the questions displayed below) Claire Corporation is planning to issue bonds with a face value of $110,000 and a coupon rate of 6 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year, Claire uses the effective interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8 percent. (FV of $1. PV of $1. FVA of $1. and PVA of S1) (Use the appropriate factor(s) from the tables provided.) P10-7 Part 2 2. Provide the journal entry to record the Interest payment on March 31, June 30, September 30, and December 31 of this year, (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.) View transaction liat Journal entry worksheet