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please help to answer, P13-2: 1.) a. b. 2.) in this picture below, it is the question from P13-2 investment on March 31, 2020, and
please help to answer, P13-2:
1.) a. b. 2.)
in this picture below, it is the question from P13-2
investment on March 31, 2020, and the retirement of the bond issutom P13-2 Bond Investment Discount Amortization Schedule Tudor Company acquired 500,000 of Carr Com LO 13.2 bonds for $487,706.69 on January 1, 2019. The bonds carry an 11% stated interest rate, pay interest semis X on January 1 and July 1, were issued to vield 12% and are due January 1, 2022. 13-57 Problems Required: 1. Prepare an investment interest income and discount amortization schedule using the a. straight-line method b. effective interest method 2. Prepare the July 1, 2021, journal entries to record the interest income under both methods. Discount Amortization on Bonds Purchased between Interest Dates On October 1. 2019. Jenkins com mation bought bonds with a face value of $200.000 for $100 175. which included accrued interest. The bonds due December 31, 2021, and carry a face rate of interest of 10.5%. Interest on the bonds is payable se on June 30 and December 31. Jenkins uses the straight-line method to amortize the discount. Required: 1. Prepare journal entries to record the purchase of the bonds, each interest receipt, and the retirement of the issue on December 31, 2021. 2. Next Level If Jenkins failed to separately record the interest at acquisition, explain the errors that would occur in the company's financial statements (no calculations are required) n m motivation Schedule Mercer Corporation acquired $400,000 of Park Com and interest
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