On January 1, 2025, Cheyenne Corporation issued $630,000 of 9% bonds, due in 10 years. The bonds were issued for $590,744, and pay interest each July 1 and January 1 Cheyenne uses the effective-interest method. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 10%. (Round answers to O decimal places, eg. 38,548. 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 the amount is entered. Do not indent manually. List all debit entries before credit entries) No. (a) (b) (c) Date Account Titles and Explanation Debit Cre

Hillside issues $1,900,000 of 5%, 15-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,641,812. Required: 1. Prepare the January 1 journal entry to record the bonds’ issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments.

During Year 1 and Year 2, Kale Co. completed the following transactions relating to its bond issue. The company’s fiscal year ends on December 31.   Year 1   Mar. 1   Issued $200,000 of 8 year, 6 percent bonds for $194,000. The semiannual cash payment for interest is due on March 1 and September 1, beginning September Year 1. Sept. 1   Recognized interest expense including the amortization of the discount and made the semiannual cash payment for interest. Dec. 31   Recognized accrued interest expense including the amortization of the discount.   Year 2   Mar. 1   Recognized interest expense including the amortization of the discount and made the semiannual cash payment for interest. Sept. 1   Recognized interest expense including the amortization of the discount and made the semiannual cash payment for interest. Dec. 31   Recognized accrued interest expense including the amortization of the discount. Prepare the liabilities section of the balance sheet at December…

On January 1, 2020, Swifty Corporation issued $450,000 of 7% bonds, due in 8 years. The bonds were issued for $423,784, and pay interest each July 1 and January 1. Swifty uses the effective-interest method.Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%.

On January​ 1, 2018​, Technicians Credit Union, ​(TCU​), issued 8%​, 20​-year bonds payable with a face value of $900,000. These bonds pay interest on June 30 and December 31. The issue price of the bonds is 108. How do I Journalize the payment of interest and amortization on December 31, 2018?

On January 1, 2020, Cullumber Company issued $400,000, 10%, 10-year bonds at face value. Interest is payable annually on January 1.(a) Prepare the journal entry to record the issuance of the bonds.  Date Account Titles and Explanation Debit Credit Jan. 1               (b) Prepare the journal entry to record the accrual of interest on December 31, 2020.  Date Account Titles and Explanation Debit Credit Dec. 31               (c) Prepare the journal entry to record the payment of interest on January 1, 2021.  Date Account Titles and Explanation Debit Credit Jan. 1

Flamingo Inc. issued $2,000,000, 5%, 5-year bonds on January 1, 2019, at 104. Interest is payable annually on December 31. Flamingo uses straight-line amortization for bond premium or discount. Prepare the journal entries to record the following events.

On January 1, 2020, Grouper Corporation issued $480,000 of 7% bonds, due in 10 years. The bonds were issued for $515,707, and pay interest each July 1 and January 1. The effective-interest rate is 6%.Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Grouper uses the effective-interest method

On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000.  Present entries to record the following transactions for the current fiscal year (for the issuer’s books):   (a) Issuance of the bonds. (b) First semiannual interest payment. (c) Amortization of bond discount for the year, using the straight-line method of amortization. (for each Journal Entry, omit the step of providing a brief explanation) JOURNAL   Date                                                                             Post.          DR                   CR (a)                                       (b)                             (c)

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…