Question
Preserited below are selected transactions on the books of Indizo Corporation. Miry 1, 2020 bonds payable with a par walue af $700,000, which are daled
Preserited below are selected transactions on the books of Indizo Corporation. Miry 1, 2020 bonds payable with a par walue af $700,000, which are daled January 1, 2020 , are sold at 108/ plus, accrued interest. They are coupon bonds, bear interest at 11% [payable annually at danuary 1i, and mature dandary 1, 2030. [Use interest expense account for acconed interesti Dec. 31 Adjusting entries are made te record the accrued intercst on the borids. and the amortization of the proper amourit of premium. (Use straipht-line amortization.' Jan. 1, 2021 Interest on the bonds is paid. April 1 Bonds with par value of 350000 are ca led at 102 plus actrued interest, and redeemed, Bend premium is to be arnortized only at the end of cach ycari? Dec.31 Adjusting entries are made to record the accrued intereston the bonds, and the proper amount of premium amortized. Prepare journal entries for the transactions above. (Round intermediate calculations to 6 decimal places, eg. 1.251247 and final answers to 0 decimal ploces, eg. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually..
To record accrued interest expense
to amortize premium 2023
to amortize premium 2024 apri 01
to record acquisition of bonds
to record accrued interest expense
to amortize premium 2024 December 31
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