or all journal entries, if an amount box does not require an entry, leave it blank. 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1. 20Y1 July 1 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. 20Y1 Dec. 31 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. 20Y2 June 30

Majestic Corporation holds an investment in Cromwell bonds that pays interest eachOctober 31. Majestic’s balance sheet at December 31 should reporta. interest expense.b. interest revenue.c. interest payable.d. interest receivable.

Redemption of bonds payable A $2,000,000 bond issue on which there is an unamortized premium of $87,000 is redeemed for $1,960,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

1. 2. On January 1, 2025, Pina Company issued $132,000 of 7%, 10-year bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1. On June 1, 2025, Grouper Company issued $84,000 of 11%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the following.

Record bond issue  record the first semiannual interest payment  record the second semiannual interest payment

On the first day of the fiscal year, a company issues an $565,000, 9%, 5-year bond that pays semiannual interest of $25,425 ($565,000 x 9% x 1/2), receiving cash of $531,100. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.     Interest Expense       Discount on Bonds Payable       Cash

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…

A $515,000 bond issue on which there is an unamortized discount of $36,000 is redeemed for $463,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

Redemption of Bonds Payable A $880,000 bond issue on which there is an unamortized premium of $66,000 is redeemed for $805,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $8,800,000, 11%, 5-year bond that pays semiannual interest of $484,00 ($8,800,000 x 11% x %2), receiving cash of $8,476,157. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.