Your answer is partially correct. Try again. Nicholas Ram Corporation have a $2,100,000 "bond issue" dated March 1, 2016 due in 15 years with an annual Interest rate of 7%. Interest is payable March 1 and September 1. On August 1, 2016, the bond was sold for $2,205,000 plus accrued interest. Using the straight-line method, prepare the general journal entries for each of the following: a) The issuance of the bond on August 1, 2016. b) Payment of the semi-annual interest and the amortization of the premium on September 1, 2016. c) Accrual of the interest and the amortization of the premium on December 31, 2016. d) Payment of the semi-annual interest and the amortization of the premium on March 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Do not use dollar signs (5) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, e.g. 5,275.25.) Debit Credit Date Account Titles and Explanation 2016 Aug. 1 Cash Premuim on Bonds Payable 105000 Bonds Payable 61250 x Bond Interest Payable 2100000 MacBook Air DVIJENAUMLULUI CALCULATOR PRINTER VERSION BACK Bond Interest Payable 2100000 Sept. 1 | Bond Interest Expense 8500 Premuim on Bonds Payable 61500 Bond Interest Payable 3500 Cash 73500 Dec. 31 T Bond Interest Expense 35875 Premuim on Bonds Payable Bond Interest Payable 36750 2017 Mar. 1 Bond Interest Payable Bond Interest Expense Premuim on Bonds Payable 73500 S KALATO & ONTWIPGx] LE Help System Announcements CALCULATOR PRINTER VERSION BACK NEXT Your answer is partially correct. Try again. Stephanie Ram Corporation have a $880,000 "bond issue" dated February 1, 2016 due in 10 years with an annual interest rate of 12%. Interest is payable February 1 and August 1. On April 1, 2016, the bond was sold for $826,900 plus accrued interest. Using the straight-line method, prepare the general journal entries for each of the following: a) The issuance of the bond on April 1, 2016. b) Payment of the semi-annual interest and the amortization of the discount on August 1, 2016. c) Accrual of the interest and the amortization of the discount on December 31, 2016. d) Payment of the semi-annual interest and the amortization of the discount on February 1, 2017 (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, e.g. 5,275.25.) Debit Credit Date Account Titles and Explanation 2016 Apr. 11 Cash 826900 Discount on Bonds Payable | 70700 Bonds Payable 880000 T Bond Interest Payable 17600 30 AAI WANT Wi Pax] DRU MacBook Air CALCULATOR PRINTER VERSION 17600 Bond Interest Payable Aug. 1 | Bond Interest Expense 35200 Bond Interest Payable T
