K On December 31, 2024, when the market interest rate is 12%, McCann Realty issues $900,000...

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K On December 31, 2024, when the market interest rate is 12%, McCann Realty issues $900,000 of 13.25%, 10-year bonds payable. The bonds pay interest semiannually. McCann Realty received $964,699 in cash at issuance. Requirements 1. Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. (Round to the nearest dollar.) 2. Using the amortization table prepared in Requirement 1, journalize issuance of the bonds and the first two interest payments. Requirement 1. Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. (Round to the nearest dollar.) Interest Premium Cash Paid Expense Amortized Carrying Amount 12/31/2024 06/30/2025 12/31/2025 Requirement 2. Using the amortization table prepared in Requirement 1, journalize issuance of the bonds and the first two interest payments. (Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.) Start by journalizing the issuance of the bonds on December 31, 2024. Date 2024 Dec. 31 Cash Accounts and Explanation Premium on Bonds Payable Bonds Payable Debit Credit K On December 31, 2024, when the market interest rate is 12%, McCann Realty issues $900,000 of 13.25%, 10-year bonds payable. The bonds pay interest semiannually. McCann Realty received $964,699 in cash at issuance. Requirements 1. Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. (Round to the nearest dollar.) 2. Using the amortization table prepared in Requirement 1, journalize issuance of the bonds and the first two interest payments. Requirement 1. Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods. (Round to the nearest dollar.) Interest Premium Cash Paid Expense Amortized Carrying Amount 12/31/2024 06/30/2025 12/31/2025 Requirement 2. Using the amortization table prepared in Requirement 1, journalize issuance of the bonds and the first two interest payments. (Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.) Start by journalizing the issuance of the bonds on December 31, 2024. Date 2024 Dec. 31 Cash Accounts and Explanation Premium on Bonds Payable Bonds Payable Debit Credit

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