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TA Post oration has the following bonds outstanding as of January 1: 696, 10-year, $1,000 face-value bonds, $500,000.00, issued at a 59% effective interest rate,

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TA Post oration has the following bonds outstanding as of January 1: 696, 10-year, $1,000 face-value bonds, $500,000.00, issued at a 59% effective interest rate, callable at 105%. 65%, 20-year, $5,000 face-value bonds, $750,000.00, issued at a 6.7% effective interest rate. The corporation accrued interest income and interest expense when preparing its December 31 financial tatements. These accruals were reversed at the start of the current fiscal year. Instructions: Journalize each transaction completed during the current year. Page 6 of a cash receipts journal and page 3 of a cash payments journal are provided in the Working Papers. Source documents are abbreviated as follows: check,C:receipt,R Transactions: Apr. 1. Purchased ten of DRB Corporation's 6.25% $1,000.00 face-value bonds at $1,008.52 each, resulting in a yield of 6.05%. C445. Paid cash to trustee for the semiannual interest payment on the $750,000.00 bond issue, which has a carrying value of $749,274.31.C468. 27. May 1. Paid cash to trustee to retire the $750,000.00 bond issue at its face value. C492 June 1 Received cash for 400 ten-year, 50% $1,000.00 face-value bonds, issued to yield 5296,5396,51720 R161. , uly1. Paid cash to trustee for the semiannual interest payment on the $500,000.00 bond issue, which has a carrying value of $501,560.51. C589. " Redeemed the $500,000.00 bond issue with a call option of 105%. 1. Received the semiannual interest payment on its 1. Sold its investment in DRB Corporation bonds for $1,0 C590. DRB Corporation bonds. R268. 25.00 per bond.R269. TA Post oration has the following bonds outstanding as of January 1: 696, 10-year, $1,000 face-value bonds, $500,000.00, issued at a 59% effective interest rate, callable at 105%. 65%, 20-year, $5,000 face-value bonds, $750,000.00, issued at a 6.7% effective interest rate. The corporation accrued interest income and interest expense when preparing its December 31 financial tatements. These accruals were reversed at the start of the current fiscal year. Instructions: Journalize each transaction completed during the current year. Page 6 of a cash receipts journal and page 3 of a cash payments journal are provided in the Working Papers. Source documents are abbreviated as follows: check,C:receipt,R Transactions: Apr. 1. Purchased ten of DRB Corporation's 6.25% $1,000.00 face-value bonds at $1,008.52 each, resulting in a yield of 6.05%. C445. Paid cash to trustee for the semiannual interest payment on the $750,000.00 bond issue, which has a carrying value of $749,274.31.C468. 27. May 1. Paid cash to trustee to retire the $750,000.00 bond issue at its face value. C492 June 1 Received cash for 400 ten-year, 50% $1,000.00 face-value bonds, issued to yield 5296,5396,51720 R161. , uly1. Paid cash to trustee for the semiannual interest payment on the $500,000.00 bond issue, which has a carrying value of $501,560.51. C589. " Redeemed the $500,000.00 bond issue with a call option of 105%. 1. Received the semiannual interest payment on its 1. Sold its investment in DRB Corporation bonds for $1,0 C590. DRB Corporation bonds. R268. 25.00 per bond.R269

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