The Gonzalez Group issued $950,000 of 9% bonds on June 30, 2024, for $1,044,016. . The...

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The Gonzalez Group issued $950,000 of 9% bonds on June 30, 2024, for $1,044,016. . The bonds were dated on June 30 and mature on June 30, 2044 (20 years). The market yield for bonds of similar risk and maturity is 8%. Interest is paid semiannually on December 31 and June 30. Required: 1. to 3. Prepare the journal entries to record their issuance by The Gonzalez Group on June 30, 2024, interest on December 31, 2024 and interest on June 30, 2025 (at the effective rate). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 2 3 Record the issuance of the bond on June 30, 2024. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev 7 of 7 Next The Gonzalez Group issued $950,000 of 9% bonds on June 30, 2024, for $1,044,016. . The bonds were dated on June 30 and mature on June 30, 2044 (20 years). The market yield for bonds of similar risk and maturity is 8%. Interest is paid semiannually on December 31 and June 30. Required: 1. to 3. Prepare the journal entries to record their issuance by The Gonzalez Group on June 30, 2024, interest on December 31, 2024 and interest on June 30, 2025 (at the effective rate). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 2 3 Record the issuance of the bond on June 30, 2024. Note: Enter debits before credits. Date June 30, 2024 General Journal Debit Credit Prev 7 of 7 Next

Answer rating: 100% (QA)

Transaction 1 Issuance of bonds on June 30 2024 Date June 30 2024 Debit Cash Ac 1044016 Credit Bonds ... View the full answer