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Quiz: Ch 14- Q... Question 4 This Quiz: 30 pts possible Submit Quiz Lakeside Magazine issued $300,000 of 15-year, 5% callable bonds payable on July 31, 2018 at 96. On July 31, 2021, Lakeside called the bonds at 104. Assume annual interest payments. Requirements 1. Without making joumal entries, compute the carrying amount of the bonds payable at July 31, 2021 2. Assume all amortization has been recorded property. Joumalize the retirement of the bonds on July 31, 2021. No explanation is required. Requirement 1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2021. (Assume bonds payable are amortized using the straight-line amortization method.) First, complete the sentence below. The carrying amount of the bonda payable at issuance (July 31, 2018) is Issuance amounts to The on the bonds at The carrying amount of the bonds payable at July 31, 2021 is Requirement 2. Assume all amortization has been recorded properly, Joumalize the retirement of the bonds on July 31, 2021. No explanation is required. (Record debits first, then credits. Exclude explanations from any journal entries) Accounts Debit Credit Date 2021 Jul 31