Jensen Corporation issued $ 1,000,000 in bounds that mature in 10 years. The bon

Question

Jensen Corporation issued $ 1,000,000 in bounds that mature in 10 years. The bonds have a stated interest rate of 9 percent and pay interests on 6/30 and 12/31.The bonds were sold at the market rate of 10 percent for $937,699, Jensen uses the effective-interest method Give all Journal entries related to record the issuance of the bonds. Indicate the account title to be debited by $937,699 Acct Receivable Cash LT Bonds payable Indicate the account title to be debited by $62,301. Cash Discount on LT Bondi Payable Interest Expense Premium on LT Bonds Payable Gain on Bonds Issuance Indicate the account title to be credited by $ 1.000.000. Discount on LT Bonds Payable Cash LT Bonds Payable Interest Expense Treasury Stock Transaction 3B - 6/30/Y3 and I2/31/Y3;. What amount of interest expense that should be recorded on Jun. 30, Y3? 545,000 $46,885 $56,000 $46,979 $47,028 What amount of cash interest should be paid on Jun. 30, Y3? $45,000 $46,885 $56,000 $46,979 $47,028 What amount of interest expense that should be recorded on Dec. 31, Y3? $45,000 $46,885 $56,000 $46,979 E. $47,028 What amount of cash interest should be paid on Dec. 31, Y3? $45,000 $46,885 $56,000 $46,979 $47,028 What is the book value of the bond on Dec. 31, Y3? $ 1,000,000 $937,699 $941.563. $939,584 $943,641

Explanation / Answer

Answer

36) B- Cash

37)B-Discount on LT payable

38) C- LT Bond payable

39)A-$45,000

40)A-$45,000

41)A-$45,000

42)A-$45,000

43)B-$937,699

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