When market interest rates were 6%, three companies issued bonds on January 1, 2021. Each company has a December 31 year end and each company issued bonds with a face value of $100,000 that pay interest annually on December 31. Bramble Limited sold its bonds at 100 and offered a coupon interest rate of 6%, while Vaughn Corp. sold its bonds at 96 and offered a coupon interest rate of 5%, and Sheffield Inc. sold its bonds at 108 and offered a 7% coupon interest rate. Record the issue of the bonds by each company on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Bramble Limited

Jan. 1 Vaughn Corp.

Jan. 1 Sheffield Inc.

Jan. 1

Question Part Score--/2 Prepare the entry that each company would record for the payment of interest on December 31, 2021. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Bramble Limited

Dec. 31 Vaughn Corp.

Dec. 31 Sheffield Inc.

Dec. 31

Question Part Score--/5 Determine the balance in each company's Bonds Payable account on December 31, 2021. Balance in Bonds Payable account Bramble Limited $

Vaughn Corp. $

Sheffield Inc. $

Question Part Score--/3

Question 21 of 25 - /10 8 View Policies Current Attempt in Progress When market interest rates were 6%, three companies issued bonds on January 1, 2021. Each company has a December 31 year end and each company issued bonds with a face value of $100,000 that pay interest annually on December 31. Bramble Limited sold its bonds at 100 and offered a coupon interest rate of 6%, while Vaughn Corp. sold its bonds at 96 and offered a coupon interest rate of 5%, and Sheffield Inc. sold its bonds at 108 and offered a 7% coupon interest rate. Record the issue of the bonds by each company on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Bramble Limited Jan. 1 Vaughn Corp. Jan. 1 Sheffield Inc. Jan. 1 Question Part Score --/2Prepare the entry that each company would record for the payment of interest on December 31, 2021. (Round answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Bramble Limited Dec. 31 Vaughn Corp. Dec. 31 Sheffield Inc. Dec. 31 Question Part Score -/5Determine the balance in each company's Bonds Payable account on December 31, 2021. Balance in Bonds Payable account Bramble Limited to Vaughn Corp. to Sheffield Inc. $ Question Part Score --/3