Record investment in bonds at a premium (LO D-5)

On January 1, Splash City issues $500,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. T. Bone Investment Company (TBIC) purchases all of the bonds in a private placement.

Assuming the market interest rate on the issue date is 6%, TBIC will purchase the bonds for $549,001.

Exercise D-11 Part 2 2. Record the purchase of the bonds by TBIC on January 1 and the receipt of the first two semiannual interest payments on June 30 and December 31. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.)

Check my work 6 Part 2 of 2 Required information Exercise D-11 Record investment in bonds at a premium (LO D-5) (The following information applies to the questions displayed below.) On January 1, Splash City issues $500,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. T. Bone Investment Company (TBIC) purchases all of the bonds in a private placement 1.25 points Assuming the market interest rate on the issue date is 6%, TBIC will purchase the bonds for $549,001. eBook Print Exercise D-11 Part 2 References 2. Record the purchase of the bonds by TBIC on January 1 and the receipt of the first two semiannual interest payments on June 30 and December 31. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 > Record the purchase of bonds