Record your responses on the spreadsheet template.

1. On January 1, 2014, Bernard Ltd. issues 500 5% bonds with a face value of $1 000. The bonds mature on December 31, 2023, and pay interest semi-annually. Prepare all the necessary journal entries to record the issue of the bonds for each of the following scenarios.

• bonds sold at 100
• bonds sold at 102
• bonds sold at 98.2

2. Record the bond interest expense on June 30, 2014, for each of the above scenarios.
3. Record the retirement of the Benjamin Ltd. bonds on December 31, 2023
4. . 

Transcribed Image Text:

Date 1a) face value Jan 1 b) c) 2a) b) c) 3 Particulars General Journal Debit Page Credit Date 1a) face value Jan 1 b) c) 2a) b) c) 3 Particulars General Journal Debit Page Credit

Answer rating: 100% (QA)

Answer 1 bonds sold at 100 Cash 500 x 1000 500000 Bond Disco... View the full answer