E13.4 (LO 1) Entries for BondCeline Dion Company issued bonds on January 1, 2025. Interest is payable semiannually onJuly 1 and January 1. Dion Company uses the straight-line method of amortization for bondpremium or discount. Pertinent information follows:Transactions-Straight-LinePar value of bondsStated interest rateTermIssue price$600,00010%InstructionsPrepare the journal entries to record the following.a. The issuance of the bonds.20 years102b. The payment of interest and related amortization on July 1, 2025.C.The accrual of interest and the related amortization on December 31, 2025.NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference acell), into the yellow shaded input cells.

Amortization: Over a certain length of time, the accounting practice known as amortization is…

Celine Dion Company issued bonds on January 1, 2025. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount. Pertinent information follows: Par value of bonds Stated interest rate Term Issue price $ 600,000 10% 20 years 102 Instructions Prepare the journal entries to record the following. a. The issuance of the bonds. b. The payment of interest and related amortization on July 1, 2025. C. The accrual of interest and the related amortization on December 31, 2025.

Celine Dion Company issued bonds on January 1, 2025. Interest is payable semiannually on July 1 and January 1. Dion Company uses the straight-line method of amortization for bond premium or discount. Pertinent information follows: Par value of bonds Stated interest rate Term Issue price $ 600,000 10% 20 years 102 Instructions Prepare the journal entries to record the following. a. The issuance of the bonds. b. The payment of interest and related amortization on July 1, 2025. C. The accrual of interest and the related amortization on December 31, 2025.

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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