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The following is taken from the Marigold Corp. balance sheet. Interest is payable annually on January 1. The bonds are callable on any annual interest
The following is taken from the Marigold Corp. balance sheet. Interest is payable annually on January 1. The bonds are callable on any annual interest date. Marigold uses straight for any bond premium or discount. From December 31,2020 , the bonds will be outstanding for an additional 10 yeal Journalize the payment of bond interest on January 1.2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually Prepare the entry to amortize bond premium and to accrue the interest due on December 31,2021 . (Credit account titles are automatically indented when amount is entered. Do not indent manually. Assume that on January 1,2022, after paying interest, Marigold Corp. calis bonds having a face value of $1,190,000. The call price is 101. Record the redemption of the bonds, (Credit occount tities are outomaticolly indented when amount is entered. Do not indent manually.) Prepare the adjusting entry at December 31,2022, to amortize bond premium and to accrue interest on the remaining bonds. (Credit occount titles are automatically indented when amount is entered. Do not indent manuolly.)
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