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Required information [The following information applies to the questions displayed below.] On January 1,2024 , White Water issues $450,000 of 6% bonds, due in 20
Required information [The following information applies to the questions displayed below.] On January 1,2024 , White Water issues $450,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $402,327. 2. Record the bond issue on January 1, 2024, and the first two interest payments on December 31, 2024, and December 31 , 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) Required information [The following information applies to the questions displayed below.] On January 1,2024 , White Water issues $450,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $402,327. equired: Complete the first three rows of an amortization schedule. (Hint. Use Illustration 9-6, except the dates for the first three rows will be 1/2024, 12/31/2024, and 12/31/2025 since interest is payable annually rather than semiannually. Interest expense for the period nded December 31, 2024, is calculated as the carrying value of $402,327 times the market rate of 7%.) (Round your final answers to le nearest whole dollar.) Required information [The following information applies to the questions displayed below.] On January 1,2024 , Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 10%, the bonds will issue at $338,257. 2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31 , 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.)
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