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urgent!! Bej Corporotion issued bonds and recelved cach in full for the issue price. The bonds were dated and kssued on January 1, year 1
urgent!!
Bej Corporotion issued bonds and recelved cach in full for the issue price. The bonds were dated and kssued on January 1, year 1 nterent is payable at the end of each year. The bonds mature at the end of four years. The following schedule has been partally completed (amounts in thousands). Required: 1. Prepare the joumal entry to record the issuance of the bond, without a premium account. If no entry is requtred for a trorisaction/event, select "No journol entry requlred" in the first occount field. Enter your answers in theusnnds of dolisrs.j Journal entry worksheet 2. Prepare the journal entry to record the payment of interest at December 31, year 2 Use the effective interest method. Assume that Berj Corporation doesn't use premtum account. (Do not round your Intermedlate calculations. If no entry is required for a trensection/event, select "No journol entry required" In the first account field. Enter your answers in thousands of dollers.) Journal entry worksheet 3. What amourts wal be reported on the financlal statements (statement of financial posmion, statement of earnengs, and statement of cash flows) for year 2? (Do not round your intermediate calculations. Enter your answers in thousands of dollars.) Bej Corporotion issued bonds and recelved cach in full for the issue price. The bonds were dated and kssued on January 1, year 1 nterent is payable at the end of each year. The bonds mature at the end of four years. The following schedule has been partally completed (amounts in thousands). Required: 1. Prepare the joumal entry to record the issuance of the bond, without a premium account. If no entry is requtred for a trorisaction/event, select "No journol entry requlred" in the first occount field. Enter your answers in theusnnds of dolisrs.j Journal entry worksheet 2. Prepare the journal entry to record the payment of interest at December 31, year 2 Use the effective interest method. Assume that Berj Corporation doesn't use premtum account. (Do not round your Intermedlate calculations. If no entry is required for a trensection/event, select "No journol entry required" In the first account field. Enter your answers in thousands of dollers.) Journal entry worksheet 3. What amourts wal be reported on the financlal statements (statement of financial posmion, statement of earnengs, and statement of cash flows) for year 2? (Do not round your intermediate calculations. Enter your answers in thousands of dollars.) Step by Step Solution
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