?? O Lecture Questions section 5 y ? Lecture Questions section s ? ??? ?https://

Question

?? O Lecture Questions section 5 y ? Lecture Questions section s ? ??? ?https://edugenwileyplus.com, ed Find on page On his way e A s w WileyPLUS M Wileyp w WileyPLUS WileyPLUS uni No results Options v WileyPLUS: MywleyPLUS I Help I Contact us ILog Out WileyPLUS Kimmel, Financial Accounting, Be FINANCIAL ACCOUNTING (ACCT 221) Home Read, Study & Practice Gradebook ORION Downloadable Textbook sianment Open CALCULATOR PESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4BA NEXT ASSIGNMENT RESOURCES Brief Exercise 10-16 Blossom company issues $2.10 million, 10-year, ?96 bonds at 96, with interest Payable on December 31. The straight-line method is used to amortize bond discount. Anef Exerize 10-12 Your anawer is correct. Propare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Debit Credit 2016000 Discount on Bonds Payable Bonds Payable LIST OF ACCOUNTS SHow Your enswer is partielly correct. Try in. Prepare the journal entry to record interest expense and bond discount amortization on December 31. 2017, ssuming no previous accruel of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles nd Explanation Debit Credit 800 PM O Type here to search 4x 4/10/2018

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Jan 1,2017 Cash 2016000 Discount on bonds payable 84000 Bonds payable 2100000 (To record bonds sale) Dec 31,2017 Interest expense 113400 Discount on bonds payable (84000/10) 8400 Cash (2100000*5%) 105000 (To record interest)

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.