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please help with these 3 parts Required information Problem 10-10AB (Algo) Effective Interest: Amortization of bond LO P5 The following information applies to the questions
please help with these 3 parts
Required information Problem 10-10AB (Algo) Effective Interest: Amortization of bond LO P5 The following information applies to the questions displayed below) Ike issues $180,000 of 11%, three-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31, They are issued at $184,565 when the market rate is 10% Problem 10-10AB (Algo) Part 1 Required: 1. Prepare the January 1 Journal entry to record the bonds issuance. Date View transaction list View journal entry worksheet No General Journal 1 January 01 Cash Bonds payable Premium on bonds payable Credit Debit 184,565 4,565 180,000 Required information Problem 10-10AB (Algo) Effective Interest: Amortization of bond LO PS (The following information applies to the questions displayed below.) Ike issues $180,000 of 11%, three-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31. They are issued at $184,565 when the market rate is 10% Problem 10-10AB (Algo) Part 3 3. Prepare an effective interest amortization table for the bonds first two years. (Round your intermediate and final answers to the nearest whole dollar) Cash Interest Paid Bond Interest Expense Premium Amortization Unamortired Premium Carrying Value Semiannual interest Period-End 01/01/2020 06/30/2020 12/31/2020 06/30/2021 12/31/2021 5 0.900 9.900 0.000 9.900 Problem 10-10AB (Algo) Effective Interest: Amortization of bond LO P5 [The following information applies to the questions displayed below.) Ike issues $180,000 of 11%, three-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31. They are issued at $184,565 when the market rate is 10%. Problem 10-10AB (Algo) Part 4 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet Record the first interest payment on June 30." Note: Enter debits before credits Date June 30 General Journal Debit Credit Record entry Clear entry View general journal Step by Step Solution
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