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Return to question Required information [The following information applies to the questions displayed below.] Part 2 of 2 On January 1, 2021, Splash City issues
Return to question Required information [The following information applies to the questions displayed below.] Part 2 of 2 On January 1, 2021, Splash City issues $490,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. points Assuming the market interest rate on the issue date is 9%, the bonds will issue at $450,092. 2. 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 intermediate and final answers to the nearest whole dollar.) No Credit 1 * Answer is complete but not entirely correct. Date General Journal Debit January 01, 2021 Cash 450,092 Discount on Bonds Payable 39.908 Bonds Payable 490,000 2 June 30, 2021 20,254 Interest Expense Discount on Bonds Payable 3.054 X 17,200 Cash 3 20,392 % December 31, 202 Interest Expense Discount on Bonds Payable 3.192 % Cash 17,200
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