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pls i have 1 h Question 3 of 5 7.41 / 16 = On January 1, 2021. Crane Satellites issued $1,370.000, 10-year bonds. The bonds
pls i have 1 h
Question 3 of 5 7.41 / 16 = On January 1, 2021. Crane Satellites issued $1,370.000, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Crane has a December 31 year end. A partial bond amortization schedule is presented below: Interest Payment Interest Expense Amortization Semi-Annual Interest Period Jan. 1.2021 July 1, 2021 Jan. 1.2022 July 1, 2022 Jan. 1.2023 July 1, 2023 Jan. 1.2024 $ [1] 41,100 41.100 41,100 41.100 41,100 $[2] 44,663 44.788 44,917 45,050 45.189 $3.443 3.563 [3] [4] 3.950 4,089 Bond Amortized Cost $1,272,645 1.276,088 1,279,651 1.283,339 [5] 1.291,106 1.295,195 Your answer is correct. Were the bonds issued at a premium or a discount? Discount eTextbook and Media List of Accounts Your answer is correct. What is the face value of the bonds? Face value of the bonds S $1,370,000 x Your answer is incorrect. What was the market interest rate when the bonds were issued? (Round answer to decimal places, eg. 52%.) Market interest rate % eTextbook and Media List of Accounts Your answer is partially correct. Record the issue of the bonds on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, Interest Payable 41,100 2021 44,543 Interest Expense (To record issuance of bonds.) eTextbook and Media List of Accounts Question 3 of 5 7.41 / 16 Record the interest payment on July 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 1, 2021 (To record interest payment.) eTextbook and Media List of Accounts * Your answer is incorrect. Record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2021 (To accrue interest expense.) Question 3 OT 5 .4 16 = eTextbook and Media List of Accounts Your answer is incorrect. What amounts would be reported as current and non-current in the liabilities section of Crane's December 31, 2021, balance sheet? CRANE SATELLITES Balance Sheet (Partial) December 31, 2021Step by Step Solution
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