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Required information [The following information applies to the questions displayed below] On January 1, 2024, Universe of Fun issues $870,000, 8% bonds that mature
Required information [The following information applies to the questions displayed below] On January 1, 2024, Universe of Fun issues $870,000, 8% bonds that mature in 10 years. The market interest rate for bonds of similar risk and maturity is 9%, and the bonds issue for $813,415. Interest is paid semiannually on June 30 and December 31. Required: 1. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Date Interest Cash Paid Expense Change in Carrying Value Carrying Value 1/1/2024 6/30/2024 12/31/2024 Required information [The following information applies to the questions displayed below.] On January 1, 2024, Universe of Fun Issues $870,000, 8% bonds that mature in 10 years. The market interest rate for bonds of similar risk and maturity is 9%, and the bonds issue for $813,415. Interest is paid semiannually on June 30 and December 31. 2. & 3. Record the issuance of the bonds on January 1, the interest payments on June 30, and December 31, 2024. (If no journal entry is required for a particular transaction, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 3 Record the bond issue. Note: Enter debits before credits. Date January 01, 2024 General Joumal Debit Credit Record entry Clear entry Journal entry worksheet < 1 2 3 Record the first semiannual interest payment. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet
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