The long-term liability section of Twin Digital Corporation’s balance sheet as of December 31, 2017, included12% bonds having a face amount of $20 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%.Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. OnJuly 1, 2018, Twin Digital retired the bonds at 102 ($20.4 million) before their scheduled maturity.Required:1. Prepare the journal entry by Twin Digital to record the semiannual interest on July 1, 2018.2. Prepare the journal entry by Twin Digital to record the redemption of the bonds on July 1, 2018.

Crane Electric sold $6,240,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and paid interest annually on January 1. The bonds were sold at 98.   At December 31, 2022, $12,480 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2022. (Enter account name only and do not provide descriptive information.) Crane ElectricBalance Sheet (Partial)choose the accounting period                                                                        select an opening section name                                                                                    enter a balance sheet item     $enter a dollar amount        select between addition and deduction                                                                       : enter a balance sheet item      enter a dollar amount   $enter a subtotal of the two previous amounts

On January 1, 2025, Concord Corporation issued $500,000 of 7% bonds, due in 10 years. The bonds were issued for $537.196, 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. Concord uses the effective interest method. (Round answers to 0 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. (4) Date Account Titles and Explanation Debit Cred

Ivanhoe Company issued $459,000, 8%, 30-year bonds on January 1, 2017, at 103. Interest is payable annually on January 1. Ivanhoe uses straight-line amortization for bond premium or discount.Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a)   The issuance of the bonds. (b)   The accrual of interest and the premium amortization on December 31, 2017. (c)   The payment of interest on January 1, 2018. (d)   The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.   No. Date Account Titles and Explanation Debit Credit (a) Jan. 1, 2017 enter an account title to record the issuance of the bonds on January 1, 2017   enter a debit amount   enter a credit amount       enter an account title to record the issuance of the bonds on January 1, 2017   enter a debit amount…