Question: only answer incorrect answers pls. Dec. 31 Presented to low are selected transactions on the books of Martinez Corporation. May 1, 2020 Bonds payable with

Dec. 31 Presented to low are selected transactions on the books of Martinez Corporation. May 1, 2020 Bonds payable with a par value of $847,200, which are dated January 1, 2020, are sold at 107 plus accrued interest. They are coupon bonds, bear interest at 12% (payable annually at January 1), and mature January 1, 2030. (Use interest expense account for accrued interest.) Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium. (Use straight-line amortization.) Jan 1, 2021 Interest on the bonds is paid. April 1 Bonds with par value of $338,880 are called at 103 plus accrued interest, and redeemed. (Bond premium is to be amortized only at the end of each year.) Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized. Prepare journal entries for the transactions above. (Round intermediate calculations to 6 decimal places, eg, 1.251247 and final answers to decimal places, eg: 38,548. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Cash May 2010 940392 Bonds Payable 847200 Interest Expense 33888 Premium on Bonds Payable 59304 Jec 31, 2020 Interest Expense 101664 59304 Nec 31, 2020 101664 101664 Premium on Bonds Payable Interest Expense Interest Payable (To record the interest) Premium on Bonds Payable Interest Expense (To amortize the premium) Interest Payable 4090 4090 in 1.2021 101664 Cash 101664 1. 2021 Bonds Payable 338880 21472 Premium on Bonds Payable Interest Expense 10166 Cash 349046 Gain on Redemption of Bonds 21472 Sec 31, 2021 Interest Expense 60998 Interest Payable 60998
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