Required information Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $300,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $279,615. vercise 9-11 (Algo) Part 2
Required information Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5) [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $300,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $279,615. vercise 9-11 (Algo) Part 2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5)
[The following information applies to the questions displayed below.]
On January 1, 2024, Splash City issues $300,000 of 7% bonds, due in 10 years, with interest payable semiannually on
June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 8%, the bonds will issue at $279,615.
Exercise 9-11 (Algo) Part 2
2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31,
2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your intermediate and final answers to the nearest whole dollar.)
View transaction list
Journal entry worksheet
1
2 3
Record the bond issue.
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Transcribed Image Text:!
Required information
Exercise 9-11 (Algo) Record bonds issued at a discount and related semiannual interest (LO9-5)
[The following information applies to the questions displayed below.]
On January 1, 2024, Splash City issues $300,000 of 7% bonds, due in 10 years, with interest payable semiannually on
June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 8%, the bonds will issue at $279,615.
Exercise 9-11 (Algo) Part 2
2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31,
2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round
your intermediate and final answers to the nearest whole dollar.)
View transaction list
Journal entry worksheet
1
2 3
Record the bond issue.
>
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