On the first day of the fiscal year, a company issues a $3,000,000, 11%, five-year bond that pays semiannual interest of $165,000 ($3,000,000 × 11% × ½), receiving cash of $2,889,599. Journalize the bond issuance.

On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest of $20,000 ($500,000 x 8% x 1/2), receiving cash of $530,000. Journalize the entry for the issuance of the bonds. If an amount box does not require an entry, leave it blank. Cash

On July 1, 20Y1, Danzer Industries Inc. issued $48,800,000 of 10-year, 9% bonds at a market (effective) interest rate of 11%, receiving cash of $42,968,258. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1.* 2. Journalize the entries to record the following:* a. The first semiannual interest payment on December 31, 20Y1, and the amortization of the bond discount, using the straight-line method. (Round to the nearest dollar.) b. The interest payment on June 30, 20Y2, and the amortization of the bond discount, using the straight-line method. (Round to the nearest dollar.) 3. Determine the total interest expense for 20Y1. 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? 5. Compute the price of $42,968,258…

On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $5,000,000, 6%, 10-year bond that pays semiannual interest of $150,000 ($5,000,000 × 6% × ½ year), receiving cash of $5,000,000. a. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the first interest payment on June 30. If an amount box does not require an entry, leave it blank. c. Journalize the entry to record the payment of the principal on the maturity date. If an amount box does not require an entry, leave it blank.

On the first day of the fiscal year, a company issues a $1,100,000, 6%, 9-year bond that pays semiannual interest of $33,000 ($1,100,000 × 6% × ½), receiving cash of $1,178,944. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.   Interest Expense        Premium on Bonds Payable        Cash

On July 1, Year 1, Khatri Industries Inc. issued $18,000,000 of 10-year, 5% bonds at a market (effective) interest rate of 6%, receiving cash of $16,661,102. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required: 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1.* 2. Journalize the entries to record the following:* a. The first semiannual interest payment on December 31, Year 1, and the amortization of the bond discount, using the straight-line method. Round to the nearest dollar. b. The interest payment on June 30, Year 2, and the amortization of the bond discount, using the straight-line method. Round to the nearest dollar. 3. Determine the total interest expense for Year 1. 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? 5. Compute…

On January 1, the first day of the fiscal year, a company issues an $2,250,000, 12%, five-year bond that pays semiannual interest of $135,000 ($2,250,000 x 12% x ½), receiving cash of $2,379,360. Required:   Journalize the first interest payment and the amortization of the related bond premium. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

On January 1, the first day of the fiscal year, a company issues an $1,800,000, 4% , five-year bond that pays semiannual interest of $36,000 ($1,800,000 x 4% x %), receiving cash of $1,992,170. Required: Journalize the first interest payment and the amortization of the related bond premium. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $200,000, 5%, 10-year bond that pays semiannual interest of $5,000 ($200,000 × 5% × ½ year), receiving cash of $200,000. (a)  Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank.   Cash  fill in the blank 135942f1f00b052_2 fill in the blank 135942f1f00b052_3   Bonds Payable  fill in the blank 135942f1f00b052_5 fill in the blank 135942f1f00b052_6   (b)  Journalize the entry to record the first interest payment on June 30. If an amount box does not require an entry, leave it blank.   Interest Expense  fill in the blank 838d07010fa3fc7_2 fill in the blank 838d07010fa3fc7_3   Cash  fill in the blank 838d07010fa3fc7_5 fill in the blank 838d07010fa3fc7_6   (c)  Journalize the entry to record the payment of the principal on the maturity date. If an amount box does not require an entry, leave it blank.…

Glenn Corporation issues a $2,000,000, 8%, 10-year bond dated January 1 at 96. The journal entry for the issuance will show a