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1. 2. 3. How much cash did Moonlight receive when it issued the bonds payable? Journalize this transaction. How much must Moonlight pay back at maturity? When is the maturity date? How much cash interest will Moonlight pay each six months? How much interest expense will Moonlight report each six months? Assume the straight-line amortization method. Journalize the entries for accrual of interest and amortization of discount on December 31, 2016, and payment of interest on January 1, 2017. 4. 1. How much cash did Moonlight receive when it issued the bonds payable? Journalize this transaction. Moonlight 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 Debit Credit Jul 1 2. How much must Moonlight pay back at maturity? When is the maturity date? At maturity, Moonlight must pay back $ The maturity date is Moonlight will pay interest of $ each six months. 4. How much interest expense will Moonlight report each six months? Assume the straight-line amortization method. Journalize the entries for accrual of interest and amortization of discount on December 31, 2016, and payment of interest on January 1, 2017. Moonlight will report $ of interest expense each six months. Journal Entry Date Accounts Debit Credit Dec 31 Date Accounts Debit Credit Jan 1. 2. 3. How much cash did Moonlight receive when it issued the bonds payable? Journalize this transaction. How much must Moonlight pay back at maturity? When is the maturity date? How much cash interest will Moonlight pay each six months? How much interest expense will Moonlight report each six months? Assume the straight-line amortization method. Journalize the entries for accrual of interest and amortization of discount on December 31, 2016, and payment of interest on January 1, 2017. 4. 1. How much cash did Moonlight receive when it issued the bonds payable? Journalize this transaction. Moonlight 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 Debit Credit Jul 1 2. How much must Moonlight pay back at maturity? When is the maturity date? At maturity, Moonlight must pay back $ The maturity date is Moonlight will pay interest of $ each six months. 4. How much interest expense will Moonlight report each six months? Assume the straight-line amortization method. Journalize the entries for accrual of interest and amortization of discount on December 31, 2016, and payment of interest on January 1, 2017. Moonlight will report $ of interest expense each six months. Journal Entry Date Accounts Debit Credit Dec 31 Date Accounts Debit Credit Jan