Required information [The following information applies to the questions displayed below.] On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $475,777. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 12/31/2021 12/31/2022 On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $475,777. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 202 try is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your swers to the nearest whole dollar.) View transaction list Journal entry worksheet Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit 547,940 January 01, 2021 Cash Premium on Bonds Payable Bonds Payable 37,940 510,000 Record entry Clear entry View general iournal 4 (THE IVIIvirry "VI I CILIUTI COPPIES LV LTIC YUCOLIVIIJ VISpruycu CIVI.] On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Part 2 of 2 Assuming the market interest rate on the issue date is 8%, the bonds will issue at $475,777. 16.66 points 2. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (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.) View transaction list eBook Journal entry worksheet Hint Print Record the first annual interest payment. References Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Interest Expense 16,438 Premium on Bonds Payable 1,412 Cash 17,850 Pacord entry clearanter Viewsoneraliournal L'ICTUHU virry HUITULUIT uppna LUCHIL YUCULUI Urspiuycu ulur 4 On January 1, 2021, White Water issues $510,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Part 2012 Part 2 of 2 Assuming the market interest rate on the issue date is 8%, the bonds will issue at $475,777. 16.66 points 2. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (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.) View transaction list eBook Journal entry worksheet Hint Print Record the second annual interest payment. References Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2022 Decord antra clarat View canarellounal S MC Graw Hill Education
