Entries for bonds payable and installment note transactions Instructions Chart of Accounts Journal Final Questions Instructions The following transactions were completed by Winklevossing whose fiscal year is the calendar year Year 1 July Oct Issued $74,000,000 of 20 year 11% collatio bonds dated July 1, You 1, mario 13 receiving cash of $63,532 267 Interest is payable semanasly on December 31 and 30 Borrowed $200,000 by sung a six-year on instalment note to Nas Bank The payments of $40,673 with the first payment occurring on September 30 Year 2 Accrued $3,000 ar interest on the installment note. The interest is payable on the date of the ne Instalment no payment Pad the semiannual interest on the bonds. The band discount amortization of some with the semiannual interest payment Dec Year 2 Instructions Chart of Accounts Journal Final Questions Instructions 31 installment note payment Paid the smallest on the bonds. The bond discount mort of $201.000 is combined with the sami interest payment Year 2 Jurid 30 Sept 30 Dec 31 Paid the semiannus interest on the bonds. The bond discountanton of 5201 combined with the semiannual interest payment Paid the annual paymentan the note, which one of interest of 12.000 and 02.03 Accrued $2.570 of interest on the station. The interests pays on the date of the instalment not payment Paid the soman Worst on the bonds. The bond discount of 251, combined with the somannual forest payment 35 Year 3 And Pro Instructons De 5 COM instalment note payment Paid the semiannual interest on the bonds The bond discount mortation of 201003 combined with the semiannual repayment 31 Year 3 June 30 Recorded the redemption of the bonds which were cated at 08. The balance in the bond decount account is 50 420,061 ottor payment of interest and mortation of discount une bonecorded Record the redemption only Pad the second annual payment on the no, which consisted of interest of $10.280 and principale $30,33 Sepi 30 Required 1 Joure the ones to record the foregoing transactions Round alamowits to the nearest doar Refer to the Chart Acants for dom Previous Check My Work June 30 Recorded the redemption of the bonds, which were cated at the balance in the bond discount account is $0,420,901 after payment of interest and mortization of discount have been recorded Record the redemption only Paid the second annual payment on the nole, which consisted of interest of 10.200 and principal $30,393 Sept 30 Required D 11 ore in time to record the foregoing transactiona Round al amounts to the newust dotar Puter to the Chart of Accouis wat wording of countries 2 indicate the amour of the interest expense in (a) Your tand () Yew 2 3. Determine the carrying amount of the bonds as of December Year 2 dow Previous Check My Work . eBook * Show Me How Entries for bonds payable and installment note transactions Chart of Accounts Journal Final Questions Instructions Journal DATE BOLEH 1 2 1 Entries for bonds payable and installment note transactions Instructions Chart of Accounts Journal Final Questions Jouma DATE DESCRIPTION SOR ORT CH + 10 Pro Entries for bonds payable and installment note transactions Instructions Chart of Account Journal Final Cuestions Joumal Year JOURNAL DESCONTO RO Check My Work instructions Chart of Accounts Joumal Final Questions Final Questions 2. Indicate the amount of the interest expense in (a) Year 1 and (b) Year 2 a Year 1 S 5. Year 2 $ 3. Determine the carrying amount of the bonds as of December 31 Year 2 S