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Return to que On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, Issues $570,000 of 8% bonds, due in
Return to que On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, Issues $570,000 of 8% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. 2. If the market interest rate is 9%, the bonds will issue at $517,555. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) Answer is complete but not entirely correct. No Debit Credit 1 Date Gereral Journal January 01, 2021 Cash Discount on Bonds Payablo Bonds Payable 517,555 52.445 >> 570,000 2 June 30, 2021 23,290 Interest Expense Cash Discount on Bonds Payable SO 22,800 490 Required information 1 January 01, 2021 Cash Discount on Bonds Payable Bonds Payable 517 555 52.445 570,000 2 June 30, 2021 23290 interest Expense Cash Discount on Bonds Payable 22.800 490 3 22,080 December 31, 202 Interest Expense Cash Discount on Bonds Payable 22,800 720
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