1. 2. Journalize the transactions of Laporte Communications, Inc. At December 31, 2018, after all year-end...

 

 

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1. 2. Journalize the transactions of Laporte Communications, Inc. At December 31, 2018, after all year-end adjustments have been made, determine the carrying amount of Laporte's bonds payable, net 3. For the six months ended July 1, 2018, determine the following for Laporte: a. Interest expense b. Cash interest paid What causes interest expense on the bonds to exceed cash interest paid? 2018 Jan Jul 1 Issued $4,000,000 of 7%, 10-year bonds payable at 94. Interest payment dates are July 1 and January 1. Paid semiannual interest and amortized bond discount by the straight-line method on the 7% bonds payable. 2019 Jan 2028 Jan 1 Dec 31 Accrued semiannual interest expense and amortized the bond discount by the straight-line method on the 7% bonds payable 1 Paid semiannual interest. 1 Paid the 7% bonds at maturity 1. 2. Journalize the transactions of Laporte Communications, Inc. At December 31, 2018, after all year-end adjustments have been made, determine the carrying amount of Laporte's bonds payable, net 3. For the six months ended July 1, 2018, determine the following for Laporte: a. Interest expense b. Cash interest paid What causes interest expense on the bonds to exceed cash interest paid? 2018 Jan Jul 1 Issued $4,000,000 of 7%, 10-year bonds payable at 94. Interest payment dates are July 1 and January 1. Paid semiannual interest and amortized bond discount by the straight-line method on the 7% bonds payable. 2019 Jan 2028 Jan 1 Dec 31 Accrued semiannual interest expense and amortized the bond discount by the straight-line method on the 7% bonds payable 1 Paid semiannual interest. 1 Paid the 7% bonds at maturity

Answer rating: 100% (QA)

Req 1 Journal entries Sno Accounts title and explanations Debit Credit 010118 Cas... View the full answer