On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Wintergreen received $139,875 when it issued the bonds (or $150,000 x .9325). After recording the related entry, Bonds Payable had a balance of $150,000 and Discounts on Bonds Payable had a balance of $10,125. Wintergreen uses the straight-line bond amortization method. The first semiannual interest payment was made on June 30 of the next year. Complete the necessary journal entry for June 30 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Wintergreen received $139,875 when it issued the bonds (or $150,000 x .9325). After recording the related entry, Bonds Payable had a balance of $150,000 and Discounts on Bonds Payable had a balance of Note: Enter debits before credits. Date Dec. 31 General Journal Debit Credit

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 15MCQ
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On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Wintergreen received $139,875
when it issued the bonds (or $150,000 × .9325). After recording the related entry, Bonds Payable had a balance of $150,000 and
Discounts on Bonds Payable had a balance of $10,125. Wintergreen uses the straight-line bond amortization method. The first
semiannual interest payment was made on June 30 of the next year.
Complete the necessary journal entry for June 30 by selecting the account names from the drop-down menus and entering the dollar
amounts in the debit or credit columns.
View transaction list
Journal entry worksheet
1
On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year
bonds at a price of 93.25. Wintergreen received $139,875 when it issued the
bonds (or $150,000 x .9325). After recording the related entry, Bonds Payable
had a balance of $150,000 and Discounts on Bonds Payable had a balance of
Note: Enter debits before credits.
Date
Dec. 31
General Journal
Debit
Credit
Transcribed Image Text:On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Wintergreen received $139,875 when it issued the bonds (or $150,000 × .9325). After recording the related entry, Bonds Payable had a balance of $150,000 and Discounts on Bonds Payable had a balance of $10,125. Wintergreen uses the straight-line bond amortization method. The first semiannual interest payment was made on June 30 of the next year. Complete the necessary journal entry for June 30 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Wintergreen received $139,875 when it issued the bonds (or $150,000 x .9325). After recording the related entry, Bonds Payable had a balance of $150,000 and Discounts on Bonds Payable had a balance of Note: Enter debits before credits. Date Dec. 31 General Journal Debit Credit
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