Ivanhoe Company issued $459,000, 8%, 30-year bonds on January 1, 2017, at 103. Interest is payable annually on January 1. Ivanhoe uses straight-line amortization for bond premium or discount.Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a)   The issuance of the bonds. (b)   The accrual of interest and the premium amortization on December 31, 2017. (c)   The payment of interest on January 1, 2018. (d)   The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.   No. Date Account Titles and Explanation Debit Credit (a) Jan. 1, 2017 enter an account title to record the issuance of the bonds on January 1, 2017   enter a debit amount   enter a credit amount       enter an account title to record the issuance of the bonds on January 1, 2017   enter a debit amount   enter a credit amount       enter an account title to record the issuance of the bonds on January 1, 2017   enter a debit amount   enter a credit amount   (b) Dec. 31, 2017 enter an account title to record the accrual of interest and the premium amortization on December 31, 2017   enter a debit amount   enter a credit amount       enter an account title to record the accrual of interest and the premium amortization on December 31, 2017   enter a debit amount   enter a credit amount       enter an account title to record the accrual of interest and the premium amortization on December 31, 2017   enter a debit amount   enter a credit amount   (c) Jan. 1, 2018 enter an account title to record the payment of interest on January 1, 2018   enter a debit amount   enter a credit amount       enter an account title to record the payment of interest on January 1, 2018   enter a debit amount   enter a credit amount   (d) Jan. 1, 2047 enter an account title to record the redemption of the bonds at maturity on January 1, 2047   enter a debit amount   enter a credit amount       enter an account title to record the redemption of the bonds at maturity on January 1, 2047

A7

Pharoah Company issued $500,000 of bonds on January 1, 2020. (a) Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit

On August 1, 2022, Bramble Corp. issued $482,400, 8%, 10-year bonds at face value. Interest is payable annually on August 1. Bramble’s year-end is December 31.     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.) Date Account Titles and Explanation Debit Credit Aug. 1 enter an account title to record the issuance of the bonds on August 1 enter a debit amount enter a credit amount   enter an account title to record the issuance of the bonds on August 1 enter a debit amount enter a credit amount   eTextbook and Media List of Accounts         Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 enter an…

The balance sheet for Pina Colada Consulting reports the following information on July 1, 2022. Long-term liabilities Bonds payable Less: Discount on bonds payable $1,280,000 51,200 $1,228,800 Pina Colada decides to redeem these bonds at 105 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

On January 1, 2018, Lane Unlimited issues a 9%, 10- year bonds payable with a face value of $240,000. The bonds are issued at 105 and pay interest on June 30 and December 31.   Journalize the semiannual interest payment and amortization of bond premium on June 30, 2018. I know to journalize I should use: Interest Expense Premium on Bonds Payable Cash But how do i figure out the amount of the interest expense, premium on bonds payable and cash?

Cullumber Company issued $650,000 of 5-year, 9% bonds at 96 on January 1, 2022. The bonds pay interest annually. (a1) 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 Credit

Blossom Company issued $510,000 of 5-year, 9% bonds at 96 on January 1, 2022. The bonds pay interest annually. (a1) Your answer is correct. 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 Cash Discount on Bonds Payable Bonds Payable Your answer is incorrect. Compute the total cost of borrowing for these bonds. Total cost of borrowing eTextbook and Media List of Accounts - Your answer is partially correct. Account Titles and Explanation Interest Expense (DZ). Premium on Bonds Payable $ Interest Payable Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 104. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Total cost of borrowing Debit eTextbook and Media $ 489600 Debit 20400 Compute the total cost of borrowing for these bonds, assuming the bonds were…

Prepare the appropriate journal entries for each of the following transactions in 2014. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) 1. On January 1, 2014, Carla Vista Cells issued bonds with a face value of $736,000. The bonds carry a stated interest of 6% payable each January 1. Prepare the journal entry for the issuance assuming the bonds are issued at 102. No. Account Titles and Explanation 1. Debit Credit

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