Blossom Company issues $2.10 million, 10-year, 7% bonds at 97, with interest payable each January 1. 1. Prepare the journal entry to record the sale of these bonds on January 1, 2022. 2.Assuming instead that the above bonds sold for 104, prepare the journal entry to record the sale of these bonds on January 1, 2022

On January 1, 2018, Denver Services issued $20,000 of 8% bonds that mature in five years. The bonds were issued for $19,000. Prepare the journal entry to issue bonds. Omit explanation

On January 1, 2018, Nebal Manufacturing Corporation issued $5,000,000, 10%, 6-year bonds dated January 1, 2018, at 105. The bonds pay semi-annual interest on January 1 and July 1. The company uses the straight-line method of amortization and has a December 31, year end. Instructions: Prepare the journal entries to record the following: The issuance of bonds on January 1, 2018. The payment of interest and the discount (or premium) amortization on July 1, 2018. The accrual of interest and the discount (or premium) amortization on December 31, 2018. The payment of interest on January 1, 2019.

Sheridan Inc. issues $5,000,000, 5-year, 10% bonds at 101, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. a) Prepare the journal entry to record the sale of these bonds on January 1, 2022 b)

Marigold Corp. issued 3, 300 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. interest is paid each january 1. Prepare the journal entry to record the sale of these bonds on January 1, 2022.

Landings Glassware Company issues $1,066,000 of 16%, 10 – year bonds at 94 on February 28, 2025. The bonds pay interest on February 28 and August 31. The journal entry to record the issuance includes a O A. credit to Discount on Bonds Payable for $63,960 O B. credit to Bonds Payable for $1,002,040 O C. debit to Cash for $1,066,000 O D. debit to Cash for $1,002,040

Great Lake Glassware Company issues $1,050,000 of its 16%, 10-year bonds at 94 on February 28, 2024. The bonds pay interest on February 28 and August 31. Assume that Great Lake uses the straight-line method for amortization The journal entry to record the first interest payment on August 31, 2024 includes a OA. debit to Interest Expense for $87,150. OB. debit to Cash for $84,000. OC. debit to Discount on Bonds Payable for $3,150 OD. debit to Interest Expense for $80,850

Sunland Company issues $220,000, 20-year, 8% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation June 1 Debit Credit

Subject: acounting

Moore Inc. issued bonds with a $500,000 face value, 8% interest rate, and a 4-year term on July 1, 2020 and received $475,000. Interest is payable annually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2020: entry to record issuing the bonds. B. June 30, 2021: entry to record payment of interest to bondholders. C. June 30, 2021: entry to record amortization of discount. D. June 30, 2022: entry to record payment of interest to bondholders. E. June 30, 2023: entry to record amortization of discount.