Required information

Skip to question

[The following information applies to the questions displayed below.]

Claire Corporation is planning to issue bonds with a face value of $290,000 and a coupon rate of 10 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 also uses 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.)

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 entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.)

Required information (The following information applies to the questions displayed below.] Claire Corporation is planning to issue bonds with a face value of $290,000 and a coupon rate of 10 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 also uses 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.) rovide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (If no ry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to rest whole dollar amount.) Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal 3. What is the carrying value of the bonds Claire will report on this year's December 31 balance sheet? (Round your final answers to nearest whole dollar amount.) Bonds Payable