Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and does not use a premium account. Assume an annual market rate of interest of 4 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)
1. Provide the journal entry to record the issuance of the bonds January 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.)
2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.Round your final answers to nearest whole dollar amount.)
3. What bonds payable amount will Serotta report on this year's December 31 balance sheet? (Round your final answers to nearest whole dollar amount.)
Question #10: P10-12 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Premium (without Premium Account) LO10-5 Skupno question [The following information applies to the questions displayed below.) Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and does not use a premium account. Assume an annual market rate of interest of 4 percent. (FV of SI, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) P10-12 Part-1 1. Provide the journal entry to record the ance of the bonds January to ne entry is required for a tractor/event select "No journal entry required in the first account folie. Round your finnes tomst whole dollar amount Cred Ne Dale General Joma Ayah umuman Body , 22 341600 Question #11: P10-12 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Premium (without Premium Account) LO10-5 SKIPToquestion [The following information applies to the questions displayed below.] Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and does not use a premium account. Assume an annual market rate of interest of 4 percent. (FV of $1. PV of $1, FVA of S1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) P10-12 Part 2 2. Provide the journal entry to record the interest payment on March 3, June 30. September 30, and December of this year ne entry is required for a transaction/event, select "No journal entry required in the first account field. Round your finanswers to nearest whole Glamount) No De March 31 Genera Juma ger Pramon bonds Cain DE C 2000 3.560 1.800 O 2 June 3.80 gere Prior bonds payabio Cash O 0.000 3 3 September pere Primbonde paste Cain 3228 0,00 4 Dec Pne O 3:20 Question #11: P10-12 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Premium (without Premium Account) LO10-5 SKU: 10 question [The following information applies to the questions displayed below.) Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective-interest amortization method and does not use a premium account, Assume an annual market rate of interest of 4 percent. (FV of S1, PV of S1, FVA of S1, and PVA of S1) (Use the appropriate factor(s) from the tables provided.) P10-12 Part 2 2. Provide the journal entry to record the best payment on March 31, June 30 September 30, and December of year of no entry is required for a transactionevent, select "No journal entry required in the first account feld Round your final answers 10 nearest whole dollar amount.) | Generalne Ne Den 1 31 March Dube 3.6000 300 Phone Com 8.800 2 June 10 000 OOO OO 3.000 2.10 Cash CO 3 2514 1200 Prode Can 0.000 4 Dec 3520 3.250 Pantuman bonds partible Canh 6.900 Question #12: P10-12 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Premium (without Premium Account) LO10-5 SKIP 10 question [The following information applies to the questions displayed below.) Serotta Corporation is planning to issue bonds with a face value of $340,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Serotta uses the effective interest amortization method and does not use a premium account. Assume an annual market rate of interest of 4 percent. (FV of $1. PV of $1, FVA of S1, and PVA of Sl) (Use the appropriate factor(s) from the tables provided.) 3. What benda paytle amount will serta report on this year's December 31 blsce sheet mund your finalaswers to nearest whole dollar amount MO
