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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Req 1
Req 2A
View transaction list
<
Prepare the journal entries by Sanyal to record all events related to the bonds through January 31, 2026.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round
intermediate calculations. Enter your answers in whole dollars.
Journal entry worksheet
1
Req 2B
Note: Enter debits before credits.
Date
July 31, 2024
Record the payment of interest for Sanyal Company.
Record entry
2 3 4 5 6
Req 3
General Journal
Interest expense
Discount on bon payable
Cash
Clear entry
Req 4 Sanyal Req 4 Barnwell
< Req 3
Debit
Credit
View general journal
Req 4 Barnwell >

Transcribed Image Text:epare the journal entries by Barnwell to record all events related to the bonds through January 31, 2026.
te: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round
termediate calculations. Enter your answers in whole dollars.
View transaction list
Journal entry worksheet
<
1
2
Date
July 31, 2024
3
Record the receipt of interest for Barnwell Company.
Note: Enter debits before credits.
Record entry
4 5 6
General Journal
Clear entry
Debit
Credit
View general journal
>
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- Part 1 Prepare journal entries to the following. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) a. Issuance of the bonds on June 1, 2023 b. Payment of interest on December 1, 2023 c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2024 d. Payment of interest on June 1, 2024 Assume JetCom Inventors Inc. has a January 31 year-end. View transaction list Journal entry worksheet 1 2 3 4 Record issued bond at discount. Note: Enter debits before credits. Date June 01, 2023 General Journal Debit Credit >arrow_forwardNonearrow_forwardhttps://education.wiley.com/content/Kieso_Intermediate_Accounting_17e/media/simulations/interest_rate_tables.pdfarrow_forward
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- Cullumber Corporation issues $430,000 of bonds for $447,200. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation eTextbook and Media List of Accounts Debit Creditarrow_forwardDomesticarrow_forwardOn September 30, 2012, Cullumber Company issued 10% bonds with a par value of $460,000 due in 20 years. They were issued at 98 and were callable at 105 at any date after September 30, 2017. Because Cullumber Company was able to obtain financing at lower rates, it decided to call the entire issue on September 30, 2018, and to issue new bonds. New 9% bonds were sold in the amount of $780,000 at 102; they mature in 20 years. Cullumber Company uses straight-line amortization. Interest payment dates are March 31 and September 30.arrow_forward
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