Question: 8 0 1 4 6 7 5 1 3 2 B D Date E Problem 2 (9 marks) Hoppy Inc. issued $5,000,000 5% bonds

8 0 1 4 6 7 5 1 3 2 B D Date E Problem 2 (9 marks) Hoppy Inc. issued $5,000,000 5% bonds on January 1, 2023 31 32 b) Hoppy Inc. redeemed the entire bond issue on January 1, 2024 when the bonds were trading at 96.

8 0 1 4 6 7 5 1 3 2 B D Date E Problem 2 (9 marks) Hoppy Inc. issued $5,000,000 5% bonds on January 1, 2023 at 94. Interest is payable semi-annually on June 30 and December 31 of each year for 8 years and the entire principal amount is due on January 1, 2030. Hoppy Inc. reports uses the straight line method to amortize the bond and has a December 31-year end. F Instructions a) Provide all the journal entries associated with the bonds from January 1 through December 31, 2023. (6 marks) Debit Credit 31 32 b) Hoppy Inc. redeemed the entire bond issue on January 1, 2024 when the bonds were trading at 96. Prepare the journal entry to record the redemption. (3 marks) 33 34 35 36 37 38 39 40 41 Date Debit Credit

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