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Entries for HTM Debt Securities: Effective Interest Method

Note: When answering the following questions, round answers to the nearest whole dollar.

Amortization Schedule

Journal Entries in Year $1$

Financial Statement Presentation

Journal Entries in Year $2$

e$.$ Record the receipt of interest on January $1$ of Year $2.$

$\backslash$table$[[$Date$,$Account Name,,Debit,Credit$],[$Jan$.1,$ Year $2,,v,0,0],[,v,0,0],[$To record interest received.,,,$]]$

f$.$ After the interest was received on July $1$ of Year $2,$ two of the bonds were sold for $$19,300$ cash. Provide the required entries on July $1$ of Year $2$ for the receipt of interest and the sale of the two bonds.

$\backslash$table$[[$Date$,$Account Name,,Debit,Credit$],[$Jul$.1,$ Year $2,,v,0,0],[2,vv,,,0],[,vv,0,0],[$To record interest received.,,,e$],[$Jul$.1,$ Year $2,.,vv,0,0],[,vv,0,0],[,vv,-9,0],[$To record sale of bond.,,,$]]$