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Required information Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 (The following information applies to the questions displayed below] Duval Company
Required information Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 (The following information applies to the questions displayed below] Duval Company issues four-year bonds with a $112,000 par value on January 1, 2021, at a price of $107,870. The annual contract rate is 9%, and interest is paid semiannually on June 30 and December 31. 1. Prepare a straight-line amortization table for these bonds. (Round your answers to the nearest dollar amount.) Semiannual Unamortized Discount Carrying Value Period-End 1/01/2021 6/30/2021 12/31/2021 6/30/2022 12/31/2022 6/30/2023 12/31/2023 6/30/2024 12/31/2024 View transaction list Journal entry worksheet < 1 2 Record the interest payment and discount amortization on June 30, 2021. Note: Enter debits before credits. Date June 30, 2021 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 Record the Interest payment and discount amortization on December 31, 2021. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < Record the entry for payment of the bonds at maturity. (Assume semiannual Interest is already recorded). Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal
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