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please fill in On October 1, 2021. Pina Corp, issued $852,000,5%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay
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On October 1, 2021. Pina Corp, issued $852,000,5%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 1. Financial statements are prepared annually on December 31. w Your answer is partially correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Oct. 1 2021 Cash Bonds Payable eTextbook and Media List of Accounts Your answer is partially correct. Prepare the adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec 31, 2021 Interest Expense Interest Payable e Textbook and Media List of Accounts Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2021. PINA CORP. Balance Sheet (Partial) December 31, 2021 Current Liabilities Interest Payable II Bonds Payable e Textbook and Media List of Accounts X Your answer is incorrect Prepare the journal entry to record the payment of interest on October 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Oct. 1. 2022 e Textbook and Media List of Accounts Prepare the adjusting entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec 31, 2022 e Textbook and Media List of Accounts X Your answer is incorrect. Assume that on January 1, 2023, Pina pays the accrued bond interest and calls the bonds. The call price is 102. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit Jan. 1. 2023 (To record payment of interest) Jan 1, 2023 THE INC (lo record the redemption of the bonds) Step by Step Solution
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