Question: Required information Exercise 10.7 Straight-Line: Amortization table and bond interest expense LO P2 The following information applies to the questions displayed below) Duval Co. Issues


Required information Exercise 10.7 Straight-Line: Amortization table and bond interest expense LO P2 The following information applies to the questions displayed below) Duval Co. Issues four-year bonds with a $102,000 par value on January 1, 2019, at a price of $97.990. The annual contract rate is 9% and interest is paid semiannually on June 30 and December 31 Exercise 10-7 Part 1 1. Prepare a straight line amortization table for these bonds (Round your answers to the nearest dollar amount.) Unamortized D iscount Semiannual Period End 1/01/2019 6/30/2019 Carrying Value 12/31/2019 6/30/2020 12/31/2020 6/30/2021 12/31/2021 6/30/2022 12/31/2022 Ju e first two interest payments. (Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 2 Record the interest payment and discount amortization on June 30, 2019. Note: Enter debits before credits Date General Journal June 30, 2019 Debit Credit Record entry Clear entry View general journal Prex 22 of 3 Next > December 31 La price of $97,990. The annual contract Exercise 10-7 Part 3 3. Prepare the journal entry for maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded). View transaction list Journal entry worksheet Record the entry for maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded). Note: Enter debits before credits Date Dec 31, 2022 General Journal Debit Credit Record entry Ciner enty View general journal
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