Headland, Inc. had outstanding $6,340,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $8,570,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 98. A portion of the proceeds was used to call the 11% bonds (with unamortized discount of $190,200) at 103 on August 1. Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds. (Record entries in the order displayed in the problem statement. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit

Oak Branch Inc. issued $900,000 of 5%, 10-year bonds when the market rate was 4%. They received $973,595. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar amount. Jan. 1, Year 1 June 30, Year 1 Dec. 31, Year 1 June 30, Year 2 Dec. 31, Year 2 June 30, Year 3 Dec. 31, Year 3 Cash Interest Payment ✔ 22,500 22,500 ✓ 22,500 ✔ 22,500 ✔ 22,500 ✓ 22,500 ✓ Interest on Carrying Value 19,472 19,411 V ✓ 19,350 ✔ 19,287 ✔ 19,222 ✔ 19,157 ✔ Amortization of Premium 3,028 3,089 3,150 ✔ ✓ 3,213 3,278 ✓ 3,343 ✔ Carrying Value 973,595 970,567 967,478 ✔ 964,328 ✔ 961,114 X 957,837 ✔ 954,493 X

Moss Co. issued $690,000 of four-year, 12% bonds, with interest payable semiannually, at a market (effective) interest rate of 10%. Determine the present value of the bonds payable:

Hsu Company issued $102,000 of 10% bonds on January 1 at face value. The bonds pay interest semiannually on January 1 and July 1. The total interest expense related to these bonds for the first year ended December 31 is O a. $5,100. Ob. $2,550 OC. S10,200. Od. S15,300.

On January 1 of the current year, the Barton Corporation issued 6% bonds with a face value of $61,000. The bonds are sold for $59,170. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is

On January 1, Elias Corporation issued 10% bonds with a face value of $68,000. The bonds are sold for $65,960. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is a. $567 b. $2,040 c. $7,004 d. $6,800

Lee Corporation has 10-year, 12% bonds payable of $136,000 that were sold on January 2, 20X1 at a premium of $20,400. The amortization on the premium is recorded at the end of every year. Determine the amount of Net bonds payable to be presented in the Balance Sheet at December 31, 20X3. What is the Net bonds payable?