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Required information P10-8 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Discount (without Discount Account) LO10-4 [The following information applies to the
Required information P10-8 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Discount (without Discount Account) LO10-4 [The following information applies to the questions displayed below.] Claire Corporation is planning to issue bonds with a face value of $190,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and does not use a discount account. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1 ) (Use the appropriate factor(s) from the tables provided.) 108 Part 1 equired: Provide the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal ntry required" in the first account field. Round your final answers to nearest whole dollar amount.) Required information P10-8 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Discount (without Discount Account) LO10-4 [The following information applies to the questions displayed below.] Claire Corporation is planning to issue bonds with a face value of $190,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and does not use a discount account. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, FVA of $1, and P PVA of $1 ) (Use the appropriate factor(s) from the tables provided.) 10-8 Part 2 Provide the journal entry to record the interest payment on March 31 , June 30 , September 30 , and December 31 of this year. (If no intry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to earest whole dollar amount.) Required information P10-8 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Discount (without Discount Account) LO10-4 [The following information applies to the questions displayed below.] Claire Corporation is planning to issue bonds with a face value of $190,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30 , and December 31 . All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and does not use a discount account. Assume an annual market rate of interest of 12 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1 ) (Use the appropriate factor(s) from the tables provided.) 10-8 Part 3 What bonds payable amount will Claire report on this year's December 31 balance sheet? (Round your final answers to nearest hole dollar amount.)
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