Question: Required Information i Problem 9-7A (Algo) Prepare a bond amortization schedule and record transactions for the bond issuer (L09-5) [The following information applies to

Required Information i Problem 9-7A (Algo) Prepare a bond amortization schedule and

Required Information i Problem 9-7A (Algo) Prepare a bond amortization schedule and record transactions for the bond issuer (L09-5) [The following information applies to the questions displayed below] On January 1, 2024, Universe of Fun issues $710,000, 8% bonds that mature in 20 years. The market interest rate for bonds of similar risk and maturity is 9%, and the bonds issue for $644,674, Interest is paid semiannually on June 30 and December 31. Problem 9-7A (Algo) Parts 2 & 3 2. & 3. Record the issuance of the bonds on January 1, the interest payments on June 30, and December 31, 2024, (If no Journal entry Is required for e particular transection, select "No Journal Entry Required" In the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2024 Cash Discount on Bonds Payable 644 674 65.326 Bonds Payable 710,000

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