Problem 10-12A On January 1, 2019, Tamarisk, Inc. issued $3,560,000 face value, 9%, 10-year bonds at...

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Problem 10-12A On January 1, 2019, Tamarisk, Inc. issued $3,560,000 face value, 9%, 10-year bonds at $3,341,253. This price resulted in an effective-interest rate of 10% on the bonds. Tamarisk uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on January 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date: Account Titles and Explanation Debit Credit Jan. 1, 2019 Prepare an amortization table through December 31, 2021 (three interest periods), for this bond issue. (Round answers to 0 decimal places, e.g. 15,250.) Tamarisk, Inc. Bond Discount Amortization Effective-Interest Method-Annual Interest Payments Annual Interest Periods Interest to Be Paid Interest Expense Discount Amortization Unamortized Discount Bond Carrying Value to Be Recorded Issue date 1 $ $ 2 3 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2019. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Date Account Titles and Explanation Debit Credit Jan. 1, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2020. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Problem 10-12A On January 1, 2019, Tamarisk, Inc. issued $3,560,000 face value, 9%, 10-year bonds at $3,341,253. This price resulted in an effective-interest rate of 10% on the bonds. Tamarisk uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on January 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date: Account Titles and Explanation Debit Credit Jan. 1, 2019 Prepare an amortization table through December 31, 2021 (three interest periods), for this bond issue. (Round answers to 0 decimal places, e.g. 15,250.) Tamarisk, Inc. Bond Discount Amortization Effective-Interest Method-Annual Interest Payments Annual Interest Periods Interest to Be Paid Interest Expense Discount Amortization Unamortized Discount Bond Carrying Value to Be Recorded Issue date 1 $ $ 2 3 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2019. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Date Account Titles and Explanation Debit Credit Jan. 1, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2020. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020

Answer rating: 100% (QA)

Answer D Journal Entries Particulars Date Jan0120 Cash Discount on Bond payable Bond payable Be... View the full answer