Given the following information from an amortization table for December 31, prepare the journal entry to...

Transcribed Image Text:

Given the following information from an amortization table for December 31, prepare the journal entry to record the payment of interest. 6% Cash 7% Effective Interest $42,000 Interest Premium Amortization $35,651 $6,349 Carrying Value $507,567 A. Account December 31 Interest Expense Premium on Bonds Payable Cash . Account December 31 Interest Expense Discount on Bonds Payable Cash C. Account December 31 Interest Expense Discount on Bonds Payable Bonds Payable D. Account December 31 Interest Payable Premium on Bonds Payable Interest Expense Debit Credit 35,651 6,349 42,000 Debit Credit 35,651 6,349 42,000 Debit Credit 35,651 6,349 42,000 Debit Credit 42,000 6,349 35,651 Given the following information from an amortization table for December 31, prepare the journal entry to record the payment of interest. 6% Cash 7% Effective Interest $42,000 Interest Premium Amortization $35,651 $6,349 Carrying Value $507,567 A. Account December 31 Interest Expense Premium on Bonds Payable Cash . Account December 31 Interest Expense Discount on Bonds Payable Cash C. Account December 31 Interest Expense Discount on Bonds Payable Bonds Payable D. Account December 31 Interest Payable Premium on Bonds Payable Interest Expense Debit Credit 35,651 6,349 42,000 Debit Credit 35,651 6,349 42,000 Debit Credit 35,651 6,349 42,000 Debit Credit 42,000 6,349 35,651