Worldview Magazine issued $390,000 of 15-year, 8% callable bonds payable on July 31, 2024, at 98....

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Worldview Magazine issued $390,000 of 15-year, 8% callable bonds payable on July 31, 2024, at 98. On July 31, 2027, Worldview called the bonds at 104. Assume annual interest payments. nd Requirements 1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2027. 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2027 No explanation is required. issuance amounts to FOUU Date 2027 Jul 31 The carrying amount of the bonds payable at July 31, 2027 is $ 383,760 Requirement 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2027 No explanation is required (Record debits first, then credits Exclude explanations from any journal entries.) Accounts Bonds Payable Loss on Retirement of Bonds Payable Discount on Bonds Payable Cash Ie Debit 390,000 Credit 7800 382200 Worldview Magazine issued $390,000 of 15-year, 8% callable bonds payable on July 31, 2024, at 98. On July 31, 2027, Worldview called the bonds at 104. Assume annual interest payments. nd Requirements 1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2027. 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2027 No explanation is required. issuance amounts to FOUU Date 2027 Jul 31 The carrying amount of the bonds payable at July 31, 2027 is $ 383,760 Requirement 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2027 No explanation is required (Record debits first, then credits Exclude explanations from any journal entries.) Accounts Bonds Payable Loss on Retirement of Bonds Payable Discount on Bonds Payable Cash Ie Debit 390,000 Credit 7800 382200

Answer rating: 100% (QA)

1 Issue PriceFVIssue price rate 39000098 382200 Discount on the bonds payable as foll... View the full answer