Required: 1. Prepare a bond amortization schedule. 2-5. Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 103. Complete this question by entering your answers in the tabs below. Req1 Reg 2 to 5 Prepare a bond amortization schedule. (Do not round intermediate calculations. Round your answers to the nearest whole dollar. Make sure that the Carrying value equals to face value of the bond in the last period. Interest expense in the last period should be calculated as Cash Interest (+)/(-) Reduction in Bonds Payable, Net.) Beginning of Year Changes During the Period End of Year Period Bonds Payable, Net Interest Expense Cash Paid 01/01/18 - 12/31/18 01/01/19 - 12/31/19 01/01/20 - 12/31/20 Increase in Bonds Bonds Payable, Net Payable, Net $ 0 $ 0 0 0 0 0 Reg 2 to 5 > Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 103. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Round your answers to the nearest whole dollar) Show less View transaction list Journal entry worksheet 1 2 3 4 Record the issuance of 590 bonds at face value of $1,000 each for $573,629. Note: Enter debits before credits Date General Journal Debit Credit Jan 01, 2018 On January 1, 2018, Surreal Manufacturing issued 590 bonds, each with a face value of $1,000, a stated interest rate of 3 percent paid annually on December 31, and a maturity date of December 31, 2020. On the issue date, the market interest rate was 4 percent, so the total proceeds from the bond issue were $573,629. Surreal uses the simplified effective interest bond amortization method and adjusts for any rounding errors when recording interest in the final year. Required: 1. Prepare a bond amortization schedule. 2-5. Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 103. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 to 5 Prepare a bond amortization schedule. (Do not round Intermediate calculations. Round your answers to the nearest whole dollar. Make sure that the Carrying value equals to face value of the bond in the last period. Interest expense in the last period should be calculated as Cash Interest (+/(-) Reduction in Bonds Payable, Net.) Beginning of Year Changes During the Period End of Year Period Bonds Payable, Net Interest Expense Cash Pald Increase in Bonde Payable. Not Bonde Payable.Net $ 0 $ 01/01/18 - 12/31/18 01/01/19 - 12/31/19 01/01/20 - 12/31/20 0 ODO 0 Reg2105
