Question: Current Attempt in Progress On May 1, 2021, Oriole Corp. issued $855,000 of 5-year, 8% bonds at 98. The bonds pay interest annually on May

Current Attempt in Progress On May 1, 2021, Oriole Corp. issued

$855,000 of 5-year, 8% bonds at 98. The bonds pay interest annually

on May 1. Oriole's year end is April 30. Record the issue

of the bonds on May 1, 2021. (Credit account titles are automatically

indented when the amount is entered. Do not indent manually. If no

Current Attempt in Progress On May 1, 2021, Oriole Corp. issued $855,000 of 5-year, 8% bonds at 98. The bonds pay interest annually on May 1. Oriole's year end is April 30. Record the issue of the bonds on May 1, 2021. (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 for the amounts.) Debit Credit Date Account Titles and Explanation May 1 Cash Bonds Payable Calculate the effective rate of the bonds using Excel or a financial calculator. (Round answer to 4 decimal places, e.g. 1.5751.) Effective rate % Date Interest Payment Interest Expense Discount Amortization Bond Amortiz May 1. 2021 $ $ $ $ May 1, 2022 May 1. 2023 te A A GA A sessment Player Ul Application wiley.com 20. Chapter 15 Homework Stion 2 of 5 May 1 2024 May 1. 2025 May 1. 2026 e Textbook and Media

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