Question: (a) Your answer has been saved. See score details after the due date. On June 1, 2020, Splish Brothers Inc. issued $9,920,000, 6% bonds for

(a)

Your answer has been saved. See score details after the due date.

On June 1, 2020, Splish Brothers Inc. issued $9,920,000, 6% bonds for $9,722,840, which includes accrued interest. Interest is payable semiannually on February 1 and August 1 with the bonds maturing on February 1, 2030. The bonds are callable at 102. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

June 1

Attempts: 1 of 1 used

(b)

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On August 1, 2020, Splish paid interest on the bonds and recorded amortization. Splish uses straight-line amortization. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Aug. 1

Attempts: 1 of 1 used

(c)

On February 1, 2022, Splish paid interest and recorded amortization on all of the bonds, and purchased $6,200,000 of the bonds at the call price. Assume that a reversing entry was made on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Feb. 1

(To record interest and amortization on the bonds)

Feb. 1

(c)

On February 1, 2022, Splish paid interest and recorded amortization on all of the bonds, and purchased $6,200,000 of the bonds at the call price. Assume that a reversing entry was made on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Feb. 1

(To record interest and amortization on the bonds)

Feb. 1

(To record purchase of bonds)

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