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Return to question on January 2018 company issues $750.000 of 8 bonds, due in ten years, with interest payable semiannually on June 30 and December
Return to question on January 2018 company issues $750.000 of 8 bonds, due in ten years, with interest payable semiannually on June 30 and December och year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $803,296. Required: Fill in the blanks in the amortization schedule below. (Round your answers to the nearest dollar amount) Answer is complete but not entirely correct. Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021 s 30,000 $ $ 28.115 28,181 1,885 1,819 X 803,296X 805,181 X 807,000 X 30,000 to. Record the bond issue on January 1, 2021, and the first two sem annual interest payments on June 30, 2021, and December 31, 2021 (# no entry 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 Date General Journal Debit Credit 1 January 01, 2021 Cash 803,296X C Premium on Bonds Payable Bonds Payable 53.296X 750,000 2 June 30, 2021 Interest Expense Premium on Bonds Payable Cash 28.115 1.885 30,000 3 December 31, 2021 Interest Expense Premium on Bonds Payable Cash 28,181 X 1,819 OS 30,000 DEC
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