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Ruth Lewis Company issued $624,000 of 10%,20 -year bonds on January 1,2025. at 102. Interest is payable semiannually on July 1 and January 1. Ruth

Ruth Lewis Company issued

$624,000

of

10%,20

-year bonds on January 1,2025. at 102. Interest is payable semiannually on July 1 and January 1. Ruth Lewis Compamy uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of

9.7705%

\ Click here to view factor tables.\ Prepare the journal entries to recond the following. (Round intermediate colculotions to 6 deximal places, eg 1251247 and final answer to 0 decimal places, eg 38,548 . If no entry is required, select "No Entry" for the account tifles and enter 0 for the amounts. Credit account tilles are outomatically indented when the amount is entered. Do not indent manually. List all debit entries before creditentries)\ a. The issuance of the bonds.\ b. The payment of interest and related a mortization on July 1,2025.\ c. The accrual of interest and the related amortization on December 31, 2025.\ Date\ Account Titles and Explanation\ cash\ Bands Payable\ Premium on Bonds payable\ Interest Expense\ Premilum on Bonds Payable\ Interest Expense\ Premfum an Bonds Psyable\ Debit\ Credit

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Ruth Lewis Company issued $624,000 of 10%. 20-year bonds on January 1, 2025. at 102. Interest is payable semiannually on July 1 and January 1. Ruth Lewis Company uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of 9.7705%. Click here to view factor tables. Prepare the journal entries to recond the following. (Round intermediate colculotions to 6 decimal places. eg. 1251247 and final answer to 0 decimal ploces, eg 38,548 . If no entry is required, select "No Entry" for the account tifles and enter 0 for the amounts. Credit account tilles are outomatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries) a. The issuance of the bonds. b. The payment of interest and related amortization on July 1, 2025. c. The accrual of interest and the related amortization on December 31, 2025

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