Hillier Electron Microscopes Inc. issued $93,000,000 in eight-year bonds to finance the expansion of its electron microscope manufacturing facility in Brantford, Ontario. The bonds pay 5% interest semi-annually and were issued at 93.719 to yield 6%.

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Prepare the related journal entries for the first two interest payments. (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 O for the amounts. Round answers to 0 decimal places, e.g. 125.) No. Account Titles and Explanation Debit Credit Payment 1 Payment 2 Prepare the related journal entries for the first two interest payments. (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 O for the amounts. Round answers to 0 decimal places, e.g. 125.) No. Account Titles and Explanation Debit Credit Payment 1 Payment 2

Answer rating: 100% (QA)

Period Cash int Int expen Discount Carrying Amortized value of bonds 0 87158670 1 2325000 2... View the full answer