Question: please help me finish this Question 1 On January 1, 2020, Orlole Company purchased 8% bonds having a maturity value of $200,000, for $ 216,849.76.

Question 1 On January 1, 2020, Orlole Company purchased 8% bonds having a maturity value of $200,000, for $ 216,849.76. The bonds provide the bondholders with a 6 % yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Oriole Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. (a) Your answer is correct. Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e.g. 2,525.25. 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 0 for the amounts.) Account Titles and Explanation Date Debit Credit Jan. 1, 2020 TDebt Investments 216849.76 Cash 216849.76 Click if you would like to Show Work for this question: Open Show Work SHOW LEST OF ACCOUNTS LINK TO TEKY Attempts: 1 of 10 used (b) Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Interest Revenue Cash Premium Carrying Amount by Study Date Received Amortized of Bonds 1/1/20 1/1/21 1/1/22 1/1/23 1/1/24 1/1/25 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS
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