$35$ Summer $2024$

HW Score: $46\mathrm{.}92\%,46\mathrm{.}92$ of $100$ points

Homework CH$12$

Question $6,$ PF$12-35$A $($similar to$)$

Points: $0$ of $20$

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Part $1$ of $4$

On January $1,2024,$ Professors Credit Union $($PCU$)$ issued $6\%,20-$year bonds payable with face value of $$200,000.$ These bonds pay interest on June $30$ and December $31.$ The issue price of the bonds is $104.$ Journalize the following bond transactions:

$($Click the icon to view the bond transactions.$)$

$($Assume bonds payable are amortized using the straight$-$line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.$)$

a$.$ Journalize the issuance of the bonds on January $1,2024.$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[2024,,,],[$Jan$.1,,,],[,,,],[,,,],[,,,]]$

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a$.$ Issuance of the bonds on January $1,2024.$

b$.$ Payment of interest and amortization on June $30,2024$

c$.$ Payment of interest and amortization on December $31,2024$

d$.$ Retirement of the bond at maturity on December $31,2043,$ assuming the last interest payment has already been recorded.