On January 1. 2017 JWS Corporation issued $600,000 7% Bonds due in 10 years The bonds were issued for $599.224, and pay interest each July 1. and January 1 JWS uses the effective-interest method Assume an effective rate of interest of 8% Prepare the company's journal entries for the July 1 Inerest payment $22.369 O nterest Expense Interest Payable Discount on Bonds Payable $21.000 $1.369 O nterest Payable Cash $22.369 $21000 S1.369 $21.000 Discount on Bonds Payable O merest Expense Cash Discount on Bonds Payable Interest Expense Cash Discount on Bends Payable $1.369 $22 369 $21.000 $1.369

On January 1, 2018, Denver Services issued $20,000 of 8% bonds that mature in five years. The bonds were issued for $19,000. Prepare the journal entry to issue bonds. Omit explanation

on January 1, 2021. Friendly corporation issued $600,000, 4% 5-years bonds at 13 at 103. Interest is payable semiannually on July 1 and January 1. The entry to record the issuance of the bonds would include a debit to premiun on bonds payable for $18,000 discount on bonds payable for $18,000 cash for $618,000 bonds payable for $600,000

The Colson Company issued $300,000 bonds at 103 on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The Colson Company records Straight Line amortization semiannually Prepare Colson's Journal entry for January 1 issue of bonds O Cash Premium on Bonds Payable Bonds Payable $309 000 $9.000 $300.000 O Cash $291.000 Premium on Bonds Payable $9.000 Bonds Payable O Cash Discount on Bonds Payable $9,000 Bonds Payable O Bonds Payable Premium on Bonds Payable $9.000 Cash S300 000 $291.000 $300.000 $291 000 $300.000

Luke Corp. issued $2,000,000 of 20-year, 9% callable bonds on July 1, Year 1, with interest payable on June 30 and December 31. The fiscal year of the company is the calendar year. What is the entry to record the payment of interest on December 31 in the year the bonds were issued? a. Interest Expense Cash Ob. Interest Payable Interest Expense Cash Oc. Interest Expense Cash d. Cash Interest Expense 90,000 90,000 90,000 180,000 90,000 90,000 180,000 180,000 90,000

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How do I journalize using the straight line method

Aggies Inc. issued bonds with a $450,000 face value, 8% interest rate, and a 4-year term on July 1, 2018, and received $510,000. Interest is payable semi-annually. The premium is amortized using the straight-line method. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of premium Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank. A.   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6     fill in the blank 8 fill in the blank 9 B.   fill in the blank 11 fill in the blank 12     fill in the blank 14 fill in the blank 15 C.

Martinez Corp. issues 4800, 10-year, 8%, $1000 bonds dated January 1, 2017, at 103. The journal entry to record the issuance will show a debit to Premium on Bonds Payable for $144000. credit to Bonds Payable for $4800000. credit to Cash for $4944000. debit to Cash of $4800000.

January 31, 2016 Muscle Sports Cars issued 10-year, 4% bonds with a face value of $100,000. The bonds were issued at 94 and pay interest on January 31 and June 30. Muscle amortizes their bonds by the straight-line method.Record (a) issuance of the bonds on January 31, (b) the semi-annual interest payment and discount amortization on June 30, and (c) the interest accrual and discount amortization on December 31.