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Ike issues $220,000 of 13%, three-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. They are issued at $225,417. Their market rate is 12% at the issue date.

9. value:

1.17 points Required information

Required:
1.	Prepare the January 1, 2015, journal entry to record the bonds' issuance.

References eBook & Resources WorksheetLearning Objective: 10-P1 Prepare entries to record bond issuance and interest expense.Learning Objective: 10-P6 Appendix 10B-Compute and record amortization of bond premium using effective interest method.Difficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.Check my work

10. value:

1.17 points Required information

2.	Complete the below table to calculatethe total bond interest expense to be recognized over the bonds' life.

References eBook & Resources Expanded tableLearning Objective: 10-P1 Prepare entries to record bond issuance and interest expense.Learning Objective: 10-P6 Appendix 10B-Compute and record amortization of bond premium using effective interest method.Difficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.Check my work

11. value:

1.17 points Required information

3.	Prepare an effective interest amortization table for the bonds' first two years.(Enter all amounts positive values.)

References eBook & Resources Expanded tableLearning Objective: 10-P1 Prepare entries to record bond issuance and interest expense.Learning Objective: 10-P6 Appendix 10B-Compute and record amortization of bond premium using effective interest method.Difficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.Check my work

12. value:

1.17 points Required information

4.	Prepare the journal entries to record the first two interest payments.

References eBook & Resources WorksheetLearning Objective: 10-P1 Prepare entries to record bond issuance and interest expense.Learning Objective: 10-P6 Appendix 10B-Compute and record amortization of bond premium using effective interest method.Difficulty: 2 MediumLearning Objective: 10-P4 Record the retirement of bonds.Check my work

13. value:

1.17 points Required information

5.	Prepare the journal entry to record the bonds' retirement on January 1, 2017, at 98.