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PART 2: BONDS 25 POINTS 1) The balance in the Bonds Payable account is a credit of S65,500. The balance in the Discount on Bonds
PART 2: BONDS 25 POINTS 1) The balance in the Bonds Payable account is a credit of S65,500. The balance in the Discount on Bonds Payable account is a debit of $2,150. How much is the bond's carrying amount? = 2) The balance in the Bonds Payable Account is a credit of $68,000. The balance in the Premium on Bonds Payable Account is a credit of $900. How much is the bond carrying amount? 3) On January 1, 2018, Davie Services issued $20,000 of 8% bonds that mature in five years. They were issued at par. Provide the joumal entry to issue bonds 3) On January 1, 2018, Davie Services issued 520,000 of 8% bonds that mature in five years. They were sold for a total of $19,000. Provide the journal entry to issue bonds. 4) On January 1, 2018, Davie Services issued $20,000 of 8% bonds that mature in five years. They were sold at a premium, for a total of $20,750. Provide the journal entry to issue bonds
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