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Rodgers Corporation produces and footballment on July 1, 2011. Rodgers 120,200,000 of 10-12 bondsamle interesse 11.2.5 manually on December 31 and June 30. The focal
Rodgers Corporation produces and footballment on July 1, 2011. Rodgers 120,200,000 of 10-12 bondsamle interesse 11.2.5 manually on December 31 and June 30. The focal year of the company is the calendar ye. Required: For all journal entries, an amount box does not require an entry leave it bank 1. Journalize the entry to record the amount of cash proceeds from the swance of the bonds only 1, 2012 Cash Premium on Bonds Payable - Ilonds Payable 100 Crew Boodi Paste is always recorded at face value. Any difference the price is reflected in a premium or decount account 2. Journalize the entries to record the following! a. The first semnal interest payment on December 21, 2011, and the amortization of the bond premium, sing the tight line method. Round to the nearest dollar Interest - Premcum on Bonds Devable all HID Cash The interest payment on June 10, 2012, and the amortization of the bond premium, uning the straight line method. Round to the nearest dolfat. Interest Expense Premium on Honds Payable - 58 YOW The straight line method of motion provides equal amounts of amortization over the the bond 3. Determine the total interest Yor 2011. Round to the nearest dollar 4. With bond proceeds always be greater than the face amount of the bonds when the contrat greater than the market rate of interest Yes 5. Compare the price of $22689,537 received for the bonds by using the present value table in And A Hound Wow Pues to decimal placed the final there due to founding forces Pri Value of the face wount Pro Value of the monnual interest payment Prion ved for the bonds
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