Blue Spruce Corp. issues $1.20 million, 10-year, 8% bonds at 97, with interest payable on December...

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Blue Spruce Corp. issues $1.20 million, 10-year, 8% bonds at 97, with interest payable on December 31. The straight- line method is used to amortize bond discount. (a) Your answer has been saved. See score details after the due date. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when 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.) te Account Titles and Explanation Debit Credit in. Cash 1,164,000 1 Disc 36,000 Bonds Payable 1,200, eTextbook and Media List of Accounts Attempts: 1 of 1 used (b) Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022, assuming no previous accrual of interest. (Credit account titles are automatically indented when 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.) ate Account Titles and Explanation Debit Credit Dec. Interest Expense 31 Discount on Bonds Payable Interest Payable Blue Spruce Corp. issues $1.20 million, 10-year, 8% bonds at 97, with interest payable on December 31. The straight- line method is used to amortize bond discount. (a) Your answer has been saved. See score details after the due date. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when 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.) te Account Titles and Explanation Debit Credit in. Cash 1,164,000 1 Disc 36,000 Bonds Payable 1,200, eTextbook and Media List of Accounts Attempts: 1 of 1 used (b) Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2022, assuming no previous accrual of interest. (Credit account titles are automatically indented when 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.) ate Account Titles and Explanation Debit Credit Dec. Interest Expense 31 Discount on Bonds Payable Interest Payable

Answer rating: 100% (QA)

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