Shunda Company wholesales parts to appliance manufacturers. On January 1, Shunda issued $20,000,000 of 5-year, 10%...

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Shunda Company wholesales parts to appliance manufacturers. On January 1, Shunda issued $20,000,000 of 5-year, 10% bonds at a market (effective) interest rate o 8%, receiving cash of $21,622,179. Interest is payable semiannually. Shunda's fiscal year begins on January 1. The company uses the interest method. a. Journalize the entries to record the following: 1. Sale of the bonds. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. 2. First semiannual interest payment, including amortization of premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. 3. Second semiannual interest payment, including amortization of premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank 88 b. Determine the bond interest expense for the first year. Round to the nearest dollar. Annual interest.pald Shunda Company wholesales parts to appliance manufacturers. On January 1, Shunda issued $20,000,000 of 5-year, 10% bonds at a market (effective) interest rate o 8%, receiving cash of $21,622,179. Interest is payable semiannually. Shunda's fiscal year begins on January 1. The company uses the interest method. a. Journalize the entries to record the following: 1. Sale of the bonds. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. 2. First semiannual interest payment, including amortization of premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. 3. Second semiannual interest payment, including amortization of premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank 88 b. Determine the bond interest expense for the first year. Round to the nearest dollar. Annual interest.pald

Answer rating: 100% (QA)

a Journalize the entries to record the following 1 Sale of the bonds Date January 1 Debit Cash 21622... View the full answer