1. Please complete the journal entries for the following bond sales A. $1,000 par bond sold...

 

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1. Please complete the journal entries for the following bond sales A. $1,000 par bond sold for 100 % B. $1,000 par bond sold for 96% C. $1,000 par bond sold for 103% 2. A bond sold for 102 % on January 1, 2021 with a par value of $2,000. The interest rate was 8% payable in semiannual payments and matures on December 31, 2025. A. Give the journal entry that should have been made on the date of sale B. Give me the journal entry for the first interest payment. 3. A corporation has notes payable and bonds payable accounts on their January 1, 2022 balance sheet. Notes Payable is under current liabilities and Bonds Payable is under long term liabilities. A. When is Notes Payable due? B. When is Bonds Payable due? 4. The balance sheet of a corporation has a Notes Payable listed that is an installment note. A. Does the Interest on an installment note increase or decrease with each installment payment over the life of the loan? B. Does the principle paid on each installment increase or decrease over the life of the loan? 1. Please complete the journal entries for the following bond sales A. $1,000 par bond sold for 100 % B. $1,000 par bond sold for 96% C. $1,000 par bond sold for 103% 2. A bond sold for 102 % on January 1, 2021 with a par value of $2,000. The interest rate was 8% payable in semiannual payments and matures on December 31, 2025. A. Give the journal entry that should have been made on the date of sale B. Give me the journal entry for the first interest payment. 3. A corporation has notes payable and bonds payable accounts on their January 1, 2022 balance sheet. Notes Payable is under current liabilities and Bonds Payable is under long term liabilities. A. When is Notes Payable due? B. When is Bonds Payable due? 4. The balance sheet of a corporation has a Notes Payable listed that is an installment note. A. Does the Interest on an installment note increase or decrease with each installment payment over the life of the loan? B. Does the principle paid on each installment increase or decrease over the life of the loan?

Answer rating: 100% (QA)

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