Page Layout Formulas Data Review View Help Search PROTECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected view e share on I Enable Editing PROBLEM 3 - Bond Journal Entries (16 points) B 4 On January 2, 2019 the James Bond Company issued $700,000 of face value bonds with a stated rate of 6% 5 The market rate at the time of issuance for similar risk investments was 7%. The proceeds from this 6 issue were $672,362. The bonds pay annual interest on December 31st and the James Bond Company 7 uses the effective interest rate to determine bond interest expense. YOU MUST SHOW YOUR COMPUTATIONS IN THE SECTION BELOW THE JOURNAL EN 5 OR IN PARENTHESES NEXT TO THE ACCOUNT NAME IN YOUR JOURNAL ENTRY 10 Required: Prepare the journal entries to record 1) The January 2, 2019 issuance of the bonds. ACCOUNT NAME DEBIT 2) Prepare the journal entry for the bond interest expense recognized on December 31, 2019. Problem 2 Problem 3 Polen Problem 5 Problem 6 Problem 1 6:35 PM 4/16/2000 Die im LM Type here to search A29 fr L M I J K 9 OR IN PARENTHESES NEXT TO THE ACCOUNT NAME IN YOUR JOURNAL ENTRY 10 Required: Prepare the journal entries to record 1) The January 2, 2019 issuance of the bonds. ACCOUNT NAME DEBIT CREDIT 2) Prepare the journal entry for the bond interest expense recognized on December 31, 2019. ACCOUNT NAME DEBIT CREDIT 3) Prepare the journal entry for the bond interest expense recognized on December 31, 2020, ACCOUNT NAME Problem 1 Problem 2 Problem 3 DEBIT Problem 4 Problem 5 CREDIT Problem 6 Type here to search 3) Prepare the journal entry for the bond interest expense recognized on December 31, 2020. ACCOUNT NAME DEBIT CREDIT YOU MUST SHOW ALL OF YOUR WORK IN THIS SECTION 35 Computations: 36 Problem 1 Problem 2 Problem 3 Problem 4 Problem 5 Problem 6 0 O Type here to search I e LM