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Please record for all three dates listed. ! Required information [The following information applies to the questions displayed below.] On January 1, 2018, Splash City
Please record for all three dates listed.
! Required information [The following information applies to the questions displayed below.] On January 1, 2018, Splash City issues $480,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $515,708. Required: 1. Complete the first three rows of an amortization table. Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 1/1/18 6/30/18 12/31/18 2. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2018 Record entry Clear entry View general journalStep by Step Solution
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