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The Bradford Company issued 6% bonds, dated January 1, with a face amount of $50 million on January 1, 2021 to Saxton-Bose Corporation. The bonds
The Bradford Company issued 6% bonds, dated January 1, with a face amount of $50 million on January 1, 2021 to Saxton-Bose Corporation. The bonds mature on December 31, 2030 (5 years). For bonds of similar risk and maturity, the market yleld is 8% Interest is paid semiannually on June 30 and December 31. (FV of $1. PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factoris) from the tables provided.) Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Saxton-Bose on January 1, 2021, Interest revenue on June 30, 2021 and Interest revenue on December 31, 2021 (at the effective rate). (Enter your answers in whole dollars. If no entry is required for a transaction levent, select "No joumal entry required in the first account field.) View transaction list Journal entry worksheet Record the purchase of the bonds by Saxton-Bose. Note: Ester debits before credits Date January 01, 2021 General Journal Debit Credit PTT Record entry Clear entry View general journal The Bradford Company issued 6% bonds, dated January 1, with a face amount of $50 million on January 1, 2021 to Saxton-Bose Corporation. The bonds mature on December 31, 2030 75 years). For bonds or similars and maturity, the market veld is 8. Interest is paid semiannually on June 30 and December 31 of 1, PV of $1. FVA OTSI. PVA S1,EVAD OCT and PVAD Or $1(Use appropriate factors) from the tables provided.) Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Saxton Bose on January 1, 2021. Interest revenue on June 30, 2021 and Interest revenue on December 31, 2021 at the effective rate). (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No Joumal ently required in the first account feld) View transaction list Journal entry worksheet Record the interest revenue on June 30, 2021. Notal Entor debit before credits General Journal Debit Credit June 30 2021 Record entry Clear entry View general journal The Bradford Company issued 6% bonds, dated January 1, with a face amount of $50 million on January 1, 2021 to Saxton-Bose Corporation. The bonds mature on December 31, 2030 (5 years) For bonds of similar risk and maturity, the market veld is 8%. Inte is paid semiannually on June 30 and December 31. (FV of $1, PV Of 51, FVA O $1. PVA Of S1, FVAD OPS and PVAD OTSIY (Use appropriate factor(s) from the tables provided.) Required: L to 3. Prepare the journal entries to record the purchase of the bonds by Saxton Bose on January 1, 2021, Interest revenue on June 30, 2021 and interest revenue on December 31, 2021 (at the effective rate) (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No Journal entry required in the first account feld.) View transaction list Journal entry worksheet
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