Question: q14 Question 14 8 points Save Ans (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company

q14 Question 14 8 points Save Ans (8 Grades) On 1/1/2020,

q14

Question 14 8 points Save Ans (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company received $900,000 in cash. Interest is paid semiannually on 30 June and 31 December every year. . Required: (1) Prepare the journal entry to record the bonds' issuance on 1/1/2020. (2) Prepare the journal entry to record the interest payment and the amortization of bond discount or premium on 30/6/2020. (3) Prepare the journal entry to record the repayment of bonds on 31/12/2024. CLEARLY INDICATE THE DEBITS & CREDITS Example on 1 January 2020. XYZ Company pays $10,000 cash to purchase land Answer 112020 Dr Land 10 000 Cr Cash 10 000 For the toolbar, press ALT-F10 (PC or ALT-FN-F10 (Mac). BI U S Paragraph Arial T TT ABC - +] - s 1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

q14 Question 14 8 points Save Answ (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company received $900,000 in cash. Interest is paid semiannually on...

q14 re Question 14 8 points Save Answer (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company received $900,000 in cash. Interest is paid...

q2 Question 2 of 15 Question 2 8 points Save Answer (8 Grades) On 1/1/2020 Blue Company issued 5-year, 9% bonds with a par value of $500,000. The company received $450,000 in cash. Interest is paid...

q2 Question 2 of 15 Question 2 8 points Save Answe (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $500,000. The company received $450.000 in cash. Interest is paid...

q2 Question 2 8 points Save Answer (8 Grades) On 1/1/2020. Blue Company issued 5-year, 9% bonds with a par value of $500,000. The company received $450,000 in cash. Interest is paid semiannually on...

q14 re Question 14 (8 Grades) 8 points Save Answe On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company received $900,000 in cash. Interest is paid...

Question 1 8 points Save AS (8 Grades) On 1/1/2020, Blue Company issued 5-year, 8% bonds with a par value of $400,000. The company received $320,000 in cash. Interest is paid semiannually on 30 June...

pletion Statuss Moving to another question will save this response. Question 12 (8 Grades) Question 12 of 15 On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The...

help me please!! WEBCAM RECORDING Remaining Time: 1 hour, 59 minutes. 32 seconds. Question Completion Status: Moving to another question will save this response Question 1 of 1 1 Question 1 8 points...

(Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company tocoived 5000,000 in ca June and 31 December every year. Required: (1) Prepare the journal entry...

On a CVP graph, the total cost line intersects the vertical(dollars) axis at A. the level of the variable costs. B. the origin C. the level of the fixed cost. D. the breakeven point.

Write a Java program by String Class that asks the user to enter distance in Kilometers. The program then computes the distance in Miles using the following formula: Miles = 0.621371 Kilometers The...

The longer its custoesers normally hold invensopy, the longer the eredit period supplier firms normally offer. Sto suppliers have some fleviblity in the eredit serms they offer. If a nupplier...

James Company had the following inventory information for the year ending December 31: Units 30 20 50 25 Cost of Goods Available for Sale 125 Total S 90 160 450 300 S 1,000 Unit Cost Beginning...