Rickey Company borrowed money by issuing $$1,500,000$ of $6\%$ bonds payable at $101\mathrm{.}3$ on July $1,2018.$ The bonds are five$-$year bonds and pay interest each January $1$ and July $1.$

Read the requirements.

How much cash did Rickey receive when it issued the bonds payable? Journalize this transaction.

Rickey received $ when the bonds payable were issued.

Journalize the issuance of the bonds payable. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Journal Entry

Date Accounts Credit

$2.$ How much must Rickey pay back at maturity? When is the maturity date?

At maturity, Rickey must pay back $

The maturity date is

Requirements

How much cash did Rickey receive when it issued the bonds payable? Journalize this transaction.

How much must Rickey pay back at maturity? When is the maturity date?

How much cash interest will Rickey pay each six months?

How much interest expense will Rickey report each six months? Use the straight$-$line amortization method. Joumalize the entries for the accrual of interest and the amortization of premium on December $31,2018,$ and payment of interest on January $1,2019$