Question: Please help me solve the following transaction. On May 1, 2021, Larkspur Construction Ltd. issued $660,000 of 20-year, 6% bonds at 100. The bonds pay

Please help me solve the following transaction.Please help me solve the following transaction. On May 1, 2021, LarkspurConstruction Ltd. issued $660,000 of 20-year, 6% bonds at 100. The bondspay interest semi-annually on November 1 and May 1. Larkspur has a

On May 1, 2021, Larkspur Construction Ltd. issued $660,000 of 20-year, 6% bonds at 100. The bonds pay interest semi-annually on November 1 and May 1. Larkspur has a calendar year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to 0 decimal places, e.g. 5,276.) (a) Record the issuance of the bonds on May 1, 2021. (b) Record the first interest payment on November 1, 2021. (c) Prepare any adjusting entry required at December 31, 2021. (d) Record the second interest payment on May 1, 2022. (e) Assume that on May 1, 2022, immediately after paying the semi-annual interest, Larkspur redeemed 50% of the bonds at 99. Record the redemption of the bond. (f) Record the third interest payment on November 1, 2022, for the remaining bonds. No. Date Debit Credit Account Titles and Explanation Cash (a) May 1, 2021 660000 Bonds Payable 660000 (b) Nov. 1, 2021 Interest Expense 19800 Cash 19800 (c) Dec 31, 2021 Interest Expense 19800 Interest Payable 19800 (d) May 1, 2022 Interest Expense 9900 Interest Payable 9900 > Cash 19800 () May 1, 2022 Bonds Payable 330000 Gain on Bond Redem 3300 Cash 326700 > (1) Nov. 1, 2022 Interest Expense 19800 Cash 19800

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