Problems Group A p-Fall-32 Journalizing liability traction and reporting them on the The following transaction of Johnson Pharmacies occurred during 2014 at 2025 balance Learning Objectives 1.5 2024 Mar 1 Dec 1 Horrowed $450,000 from Coconut Creek Bank. The 15 years note requires payments due annually, on March 1. Each payment condits of $30.000 principal plus one year's interest Mortgaged the warehouse for $250.000 cash with Saputo bank. The mortgage requires monthly payments of 58.000 The interest rate on the note is 12% and accrues monthly. The first payment is due on lanuary 1, 2025 Recorded interest accrued on the Saputo Bank note Recorded interest accrued on the Coconut Creek Banknote. 31 31 2025 jan. 1 Feb. 1 Mar. 1 1 Paid Saputo Bank monthly mortgage payment Pald Saputo Bank monthly mortgage payment Paid Saputo Bank monthly mortgage payment Paid first installment on note due to Coconut Creek Bank Requirements 1. Journalize the transactions in the Johnson Pharmacies general journal. Round to the nearest dollar. Explanations are not required. 2.- Prepare the liabilities section of the balance sheet for Johnson Pharmacies on March 1, 2025, after all the journal entries are recorded. P-F:14-33A Analyzing, journalizing, and reporting bond transactions Dammy's Hamburgers issued 6%, 10-year bonds payable at 90 on December 31, 2024 At December 31, 2026, Danny reported the bonds payable as follows: Learning Objectives 2.3 2. Discount 53.000 Long-term Liabilities: Bonds Payable Less: Discount on Bonds Payable $ 600,000 (48,000) $ 552,000 Danny's pays semiannual interest each June 30 and December 31. Requirements 1. Answer the following questions about Danny's bonds payable: a. What is the maturity value of the bonds b. What is the carrying amount of the bonds at December 31, 20267 c. What is the semiannual cash interest payment on the bonds d. How much interest expense should the company record each year? 2. Record the June 30, 2026, semiannual interest payment and amortization of discount Problems Group A p-Fall-32 Journalizing liability traction and reporting them on the The following transaction of Johnson Pharmacies occurred during 2014 at 2025 balance Learning Objectives 1.5 2024 Mar 1 Dec 1 Horrowed $450,000 from Coconut Creek Bank. The 15 years note requires payments due annually, on March 1. Each payment condits of $30.000 principal plus one year's interest Mortgaged the warehouse for $250.000 cash with Saputo bank. The mortgage requires monthly payments of 58.000 The interest rate on the note is 12% and accrues monthly. The first payment is due on lanuary 1, 2025 Recorded interest accrued on the Saputo Bank note Recorded interest accrued on the Coconut Creek Banknote. 31 31 2025 jan. 1 Feb. 1 Mar. 1 1 Paid Saputo Bank monthly mortgage payment Pald Saputo Bank monthly mortgage payment Paid Saputo Bank monthly mortgage payment Paid first installment on note due to Coconut Creek Bank Requirements 1. Journalize the transactions in the Johnson Pharmacies general journal. Round to the nearest dollar. Explanations are not required. 2.- Prepare the liabilities section of the balance sheet for Johnson Pharmacies on March 1, 2025, after all the journal entries are recorded. P-F:14-33A Analyzing, journalizing, and reporting bond transactions Dammy's Hamburgers issued 6%, 10-year bonds payable at 90 on December 31, 2024 At December 31, 2026, Danny reported the bonds payable as follows: Learning Objectives 2.3 2. Discount 53.000 Long-term Liabilities: Bonds Payable Less: Discount on Bonds Payable $ 600,000 (48,000) $ 552,000 Danny's pays semiannual interest each June 30 and December 31. Requirements 1. Answer the following questions about Danny's bonds payable: a. What is the maturity value of the bonds b. What is the carrying amount of the bonds at December 31, 20267 c. What is the semiannual cash interest payment on the bonds d. How much interest expense should the company record each year? 2. Record the June 30, 2026, semiannual interest payment and amortization of discount
