Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Discount, Interest Accrual Mitchell Inc. issued 128,6%, $1,000 bonds on January 1, 2020. The bonds pay cash interest semiannually each July 1, and January 1, and were issued to yield 7%. The bonds mature January 1, 2023, and the company uses the effective interest method to amortize bond discounts premiums. Required a. Determine the selling price of the hands. Round amount to the nearest dollar. b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. July 1, 2020, interest payment. 3. December 31, 2020, interest accrual. 4. January 1, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries a Selling price of bonds S 0 Please answer all parts of the question Previous Save Answers Next Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Discount, Interest Accrual Mitchell Inc. issued 128,6%, $1,000 bands on January 1, 2020. The bonds pay cash interest semiannually each July 1, and January 1, and were issued to yield 7%. The bonds mature January 1, 2023, and the company uses the effective interest method to amortize bond discounts or premiums. Required a. Determine the selling price of the bonds. Round amount to the nearest dollar. b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. July 1, 2020. Interest payment. 3. December 31, 2020, interest accrual. 4. January 1, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries b. Note: Round amounts in schedule to the nearest whale dollar. Use rounded amounts for later calculations in the schedule. Note: Include any net rounding difference for Bond Payable, Net in the interest expense amount for January 1, 2023. Cash 0 Date Jan. 1.2020 July 1, 2020 $ Jan 1, 2021 July 1, 2021 Jan. 1.2022 July 1, 2022 Jan. 1.2023 Total $ Interest Expense Discount Amortization Bonds Payable, Net S 0$ 0 0 0 0 0 a 0 0 D 0 0 0 of the rulestinn Recording Bond Entries and preparing an Amortization schedule Errective terest wethou, Discount, interest Accrual Mitchell Inc. issued 128,6%, $1,000 bonds on January 1, 2020. The bonds pay cash interest semiannually each July 1, and January 1, and were issued to yield 7%. The bonds mature January 1, 2023, and the company uses the effective interest method to amortize hond discounts or premiums, Required a. Determine the selling price of the bonds. Round amount to the nearest dollar. b. Prepare an amortization schedule for the full bond term. C. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. July 1, 2020, interest payment, 3. December 31, 2020, interest accrual. 4. January 1, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries c Note: List multiple debits or credits (when applicable) in alphabetical order, . Note: Round your answers to the nearest whole dollar. Account Name Dr. Cr Date 1. Jan 1, 2020 o - 2. Jul 1, 2020 0 0 0 0 0 0 0 0 0 0 3. Dec 31, 2020 . 4 Jan 1, 2021 0 Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Discount, Interest Accrual Mitchell Inc. issued 128,6%, $1,000 bonds on January 1, 2020. The bonds pay cash interest semiannually each July 1, and January 1, and were issued to yield 7%. The bonds mature January 1, 2023, and the company uses the effective interest method to amortize bond discounts premiums. Required a. Determine the selling price of the hands. Round amount to the nearest dollar. b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. July 1, 2020, interest payment. 3. December 31, 2020, interest accrual. 4. January 1, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries a Selling price of bonds S 0 Please answer all parts of the question Previous Save Answers Next Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Discount, Interest Accrual Mitchell Inc. issued 128,6%, $1,000 bands on January 1, 2020. The bonds pay cash interest semiannually each July 1, and January 1, and were issued to yield 7%. The bonds mature January 1, 2023, and the company uses the effective interest method to amortize bond discounts or premiums. Required a. Determine the selling price of the bonds. Round amount to the nearest dollar. b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. July 1, 2020. Interest payment. 3. December 31, 2020, interest accrual. 4. January 1, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries b. Note: Round amounts in schedule to the nearest whale dollar. Use rounded amounts for later calculations in the schedule. Note: Include any net rounding difference for Bond Payable, Net in the interest expense amount for January 1, 2023. Cash 0 Date Jan. 1.2020 July 1, 2020 $ Jan 1, 2021 July 1, 2021 Jan. 1.2022 July 1, 2022 Jan. 1.2023 Total $ Interest Expense Discount Amortization Bonds Payable, Net S 0$ 0 0 0 0 0 a 0 0 D 0 0 0 of the rulestinn Recording Bond Entries and preparing an Amortization schedule Errective terest wethou, Discount, interest Accrual Mitchell Inc. issued 128,6%, $1,000 bonds on January 1, 2020. The bonds pay cash interest semiannually each July 1, and January 1, and were issued to yield 7%. The bonds mature January 1, 2023, and the company uses the effective interest method to amortize hond discounts or premiums, Required a. Determine the selling price of the bonds. Round amount to the nearest dollar. b. Prepare an amortization schedule for the full bond term. C. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. July 1, 2020, interest payment, 3. December 31, 2020, interest accrual. 4. January 1, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries c Note: List multiple debits or credits (when applicable) in alphabetical order, . Note: Round your answers to the nearest whole dollar. Account Name Dr. Cr Date 1. Jan 1, 2020 o - 2. Jul 1, 2020 0 0 0 0 0 0 0 0 0 0 3. Dec 31, 2020 . 4 Jan 1, 2021 0