Question: I need help with part b Exercise 10-21 (Part Level Submission) Swifty Corporation issued $836,000, 15%, 10-year bonds on December 31, 2018, for $817,190. Interest
I need help with part b
Exercise 10-21 (Part Level Submission) Swifty Corporation issued $836,000, 15%, 10-year bonds on December 31, 2018, for $817,190. Interest is payable annually on December 31. Swifty Corporation uses the straight-line method to amortize bond premium or discount. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2018 TCash 817,190 Discount on Bonds Payable 18,810T Bonds Payable T 836,000 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Attempts: 1 of 3 used (b) Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2019 Click if you would like to Show Work for this question: Open Show Work
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