Transaction 2A 01 01 Y3 Jensen Corporation issued $1,000,000 in bonds that mature in 10 years The bonds have a stated interest rate of 9 percent and pay interests on 6 30 and 12 31 The bonds were sold at the market rate of 10 percent for $937,699 Jensen uses the effective interest method Give all journal entries related to record the issuance of the bonds a Indicate the account title to be debited by $937,699 A Acct Receivable B Cash C LT Bonds Payable D Discount on LT Bonds Payable E None Transaction 2A 01 01 Y3 Jensen Corporation issued $1,000,000 in bonds that mature in 10 years The bonds have a stated interest rate of 9 percent and pay interests on 6 30 and 12 31 The bonds were sold at the market rate of 10 percent for $937,699 Jensen uses the effective interest method Give all journal entries related to record the issuance of the bonds b Indicate the account title to be debited by $62,301 A Cash B Discount on LT Bonds Payable C Interest Expense D Premium on LT Bonds Payable E Gain on Bonds Issuance Transaction 2A 01 01 Y3 Jensen Corporation issued $1,000,000 in bonds that mature in 10 years The bonds have a stated interest rate of 9 percent and pay interests on 6 30 and 12 31 The bonds were sold at the market rate of 10 percent for $937,699 Jensen uses the effective interest method Give all journal entries related to record the issuance of the bonds c Indicate the account title to be credited by $1,000,000 A Discount on LT Bonds Payable B Cash C LT Bonds Payable D Interest Expense E Treasury Stock Transaction 2B 6 30 Y3 and 12 31 Y3 c What amount of interest expense that should be recorded on Jun 30, Y3 (This question is related to Transaction 2A) A $45,000 B $46,885 C $56,000 D $46,979 E $47,028 Transaction 2B 6 30 Y3 and 12 31 Y3 d What amount of cash interest should be paid on Jun 30, Y3 (This question is related to Transaction 2A) A $45,000 B $46,885 C $56,000 D $46,979 E $47,028 Transaction 2B 6 30 Y3 and 12 31 Y3 e What amount of interest expense that should be recorded on Dec 31, Y3 (This question is related to Transaction 2A) A $45,000 B $46,885 C $56,000 D $46,979 E $47,028 Transaction 2B 6 30 Y3 and 12 31 Y3 f What amount of cash interest should be paid on Dec 31, Y3 (This question is related to Transaction 2A) A $45,000 B $46,885 C $56,000 D $46,979 E $47,028 Transaction 2B 6 30 Y3 and 12 31 Y3 g What is the book value of the bond on Dec 31, Y3 (This question is related to Transaction 2A) A $1,000,000 B $937,699 C $941,563 D $939,584 E $943,641 Transaction 3A Dec 1, Y3 Jensen Corporation borrowed from its bank $10,000 on a 90 day note at 12 The note and interest were to be paid upon maturity in Y4 Give all journal entries to record this transaction on Dec 1, Y3 h Indicate the account title to be debited by $10,000 A Acct Receivable B Cash C Interest Expense D Accounts Payable E Note Payable Transaction 3A Dec 1, Y3 Jensen Corporation borrowed from its bank $10,000 on a 90 day note at 12 The note and interest were to be paid upon maturity in Y4 Give all journal entries to record this transaction on Dec 1, Y3 i Indicate the account title to be credited by $10,000 A Acct Receivable B Cash C Interest Expense D Accounts Payable E Note Payable Transaction 3B Dec 31, Y3 Prepare the adjusting entry to record accrued interest on the note (Related to Transaction 3A) j How much interest expense would be reported in Y3 A $0 B $100 C $300 D $1,200 Transaction 3B Dec 31, Y3 Prepare the adjusting entry to record accrued interest on the note (Related to Transaction 3A) k Indicate the account title to be debited A Acct Payable B Cash C Interest Expense D Interest Payable E Treasury Stock Transaction 3B Dec 31, Y3 Prepare the adjusting entry to record accrued interest on the note (Related to Transaction 3A) L Indicate the account title to be credited A Acct Payable B Cash C Interest Expense D Interest Payable E Treasury Stock

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Transaction 2A - 01/01/Y3: Jensen Corporation issued $1,000,000 in bonds that mature in 10 years. The bonds have a stated interest rate of 9 percent

Transaction 2A - 01/01/Y3: Jensen Corporation issued $1,000,000 in bonds that mature in 10 years. The bonds have a stated interest rate of 9 percent and pay interests on 6/30 and 12/31. The bonds were sold at the market rate of 10 percent for $937,699. Jensen uses the effective-interest method.

Give all journal entries related to record the issuance of the bonds.

a. Indicate the account title to be debited by $937,699.

	A.	Acct Receivable
	B.	Cash
	C.	LT Bonds Payable
	D.	Discount on LT Bonds Payable
	E.	None

Give all journal entries related to record the issuance of the bonds.

b. Indicate the account title to be debited by $62,301.

	A.	Cash
	B.	Discount on LT Bonds Payable
	C.	Interest Expense
	D.	Premium on LT Bonds Payable
	E.	Gain on Bonds Issuance

Give all journal entries related to record the issuance of the bonds.

c. Indicate the account title to be credited by $1,000,000.

	A.	Discount on LT Bonds Payable
	B.	Cash
	C.	LT Bonds Payable
	D.	Interest Expense
	E.	Treasury Stock