Check my word 8 McWherter Instruments sold $300 million of 8% bonds, dated January 1, on January 1, 2021. The bonds mature on December 31, 2040 (20 years). For bonds of similar risk and maturity, the market yield was 10%. Interest is paid semiannually on June 30 and December 31. Blanton Technologies, Inc., purchased $300,000 of the bonds as a long term investment (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Ants Skipped Required: 1. Determine the price of the bonds issued on January 1, 2021. 2. Prepare the journal entries to record (a) their Issuance by McWherter and (b) Blanton's investment on January 1, 2021 3. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). 4. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2021 (at the effective rate) eBook Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the price of the bonds issued on January 1, 2021. (Enter your answer in whole dollars.) Bond price View transaction list 22 Ants Journal entry worksheet Skipped eBook Record the issue of bonds payable by McWherter. Print Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal Journal entry worksheet Skipped eBook Record the bond investment by Blanton. Print Note: Enter debits before credits Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal rrepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). required for a transaction/event, select "No Journal entry required in the first account field. Do not round Intermediate a Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 Record the interest expense for McWherter. Note: Enter debits before credits. Debit Credit Date General Journal June 30, 2021 Check m Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rar required for a transaction/event, select "No journal entry required in the first account field. Do not round Intermediar Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the interest revenue for Blanton. Note: Enter debits before credits Date General Journal Credit Debit June 30, 2021 View transaction list Journal entry worksheet kipped Record the interest expense for McWherter. eBook Note: Enter debits before credits Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal Help Save & Exit Check m View transaction list Journal entry worksheet Ints Skipped Record the interest revenue for Blanton. eBook Print Note: Enter debits before credits. Date Debit Credit General Journal December 31, 2021 View general journal Record entry Clear entry Check my word 8 McWherter Instruments sold $300 million of 8% bonds, dated January 1, on January 1, 2021. The bonds mature on December 31, 2040 (20 years). For bonds of similar risk and maturity, the market yield was 10%. Interest is paid semiannually on June 30 and December 31. Blanton Technologies, Inc., purchased $300,000 of the bonds as a long term investment (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Ants Skipped Required: 1. Determine the price of the bonds issued on January 1, 2021. 2. Prepare the journal entries to record (a) their Issuance by McWherter and (b) Blanton's investment on January 1, 2021 3. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). 4. Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on December 31, 2021 (at the effective rate) eBook Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the price of the bonds issued on January 1, 2021. (Enter your answer in whole dollars.) Bond price View transaction list 22 Ants Journal entry worksheet Skipped eBook Record the issue of bonds payable by McWherter. Print Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal Journal entry worksheet Skipped eBook Record the bond investment by Blanton. Print Note: Enter debits before credits Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal rrepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rate). required for a transaction/event, select "No Journal entry required in the first account field. Do not round Intermediate a Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 Record the interest expense for McWherter. Note: Enter debits before credits. Debit Credit Date General Journal June 30, 2021 Check m Prepare the journal entries by (a) McWherter and (b) Blanton to record interest on June 30, 2021 (at the effective rar required for a transaction/event, select "No journal entry required in the first account field. Do not round Intermediar Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the interest revenue for Blanton. Note: Enter debits before credits Date General Journal Credit Debit June 30, 2021 View transaction list Journal entry worksheet kipped Record the interest expense for McWherter. eBook Note: Enter debits before credits Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal Help Save & Exit Check m View transaction list Journal entry worksheet Ints Skipped Record the interest revenue for Blanton. eBook Print Note: Enter debits before credits. Date Debit Credit General Journal December 31, 2021 View general journal Record entry Clear entry
