i need the answer quickly The Pearl Company issued $210,000 of 9% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable eachJuly 1 and January 1. The bonds were issued at 101.Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Pearl Company records straight-lineamortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Creditaccount titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries beforecredit entries.)No.DateAccount Titles and Explanation(a)Jan. 1, 2025CashPremium on Bonds PayableBonds Payable(b)July 1, 2025 OInterest ExpensePremium on Bonds PayableCash(c)Dec. 31, 2025Interest ExpenseDebit212.1009,660210CreditSUPPORT9,660

The bonds are issued to raise the money from the market or investors. Bonds are issued at a premium…

The Pearl Company issued $210,000 of 9% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable each July 1 and January 1. The bonds were issued at 101. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Pearl Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter 0 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. Date Account Titles and Explanation (a) Jan. 1, 2025 Cash Premium on Bonds Payable Bonds Payable (b) July 1, 2025 C Interest Expense Debit 212.100 9,660 Premium on Bonds Payable 210 Cash (c) Dec. 31, 2025 Interest Expense Credit S 9,660

The Pearl Company issued $210,000 of 9% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable each July 1 and January 1. The bonds were issued at 101. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Pearl Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter 0 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. Date Account Titles and Explanation (a) Jan. 1, 2025 Cash Premium on Bonds Payable Bonds Payable (b) July 1, 2025 C Interest Expense Debit 212.100 9,660 Premium on Bonds Payable 210 Cash (c) Dec. 31, 2025 Interest Expense Credit S 9,660

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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