E Calculator The entry to record the amortization of a premium on bonds payable on an interest payment date would a debit to Premium on Bonds Payable and a credit to Interest Revenue a debit to Interest Expense and a credit to Premium on Bond Payable a debit to Bonds Payable and a credit to Interest Expense a debit to Interest Expense and Premium on Bonds Payable and a credit to Cash 4:12 PM 12/20/2019

Assuming a 360-day year, the interest charged by the bank, at the rate of 6%, on a 90-day, discounted note payable of $106,407 is

Question 9 consist of noninterest-bearing demand deposits and interest-bearing checking accounts. O Negotiable CDs. O Transaction accounts. O Non-transaction accounts. Savings and time deposits.

The following table describes your bank account balance before and after each time point as well as deposit and withdrawal history from April 1, 2020 to April 1, 2021. Date Balance before Deposit Withdrawal Balance after Apr. 1, 2020 300 300 Jul. 1, 2020 350 100 250 Dec. 1, 2020 280 200 480 Apr. 1, 2021 500 500 Calculate the dollar-weighted interest rate during the entire period. O less than 33% at least 33%, but less than 34% at least 34%, but less than 35% at least 35%, but less than 36% at least 36%, but less than 37% at least 37% Question 9 (Continued from the last question.) Calculate the time-weighted interest rate during the entire period. less than 33% at least 33%, but less than 34% at least 34%, but less than 35% at least 35%, but less than 36% at least 36%, but less than 37% at least 37%

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A $2,600 credit balance in the Premium on Bonds Payable account represents which of the following? Select one: a. An overpayment for a bond purchase b. An underpayment for a bond purchase c. The current amount of amortization expense d. The unamortized amount of premium earned on a bond issue

b. The interest payment on June 30, Year 2, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar. Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Receivable 3. Determine the total interest expense for Year 1. Round to the nearest dollar. 4. Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of interest? 5. Compute the price of $23,854,460 received for the bonds by using Present value at compound interest, and Present value of an annuity. Round to the nearest dollar. Your total may vary slightly from the price given due to rounding differences. Present value of the face amount Present value of the semiannual interest payments Price received for the bonds

A. Amount of interest charge for each note B. Amount boweower would receive C. Amount payer would receive at maturity D. Effective rate

Crane Corp. owes $ 283,000 to Cheyenne Trust. The debt is a 10-year, 12% note due December 31, 2020. Because Crane Corp. is in financial trouble, Cheyenne Trust agrees to extend the maturity date to December 31, 2022, reduce the principal to $ 236,000, and reduce the interest rate to 6%, payable annually on December 31. (a) Prepare the journal entries on Crane's books on December 31, 2020, 2021, 2022. (b) Prepare the journal entries on Cheyenne Trust's books on December 31, 2020, 2021, 2022. Click here to view factor tables. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to O decimal places eg. 58,971. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)