Chowan Corporation issued $198,000 of 8% bonds dated January 1, 2019, for $191,470.07 on January 1, 2019. The bonds are due December 31, 2019, were issued to yield 9%, and pay interest semiannually on June 30 and December 31. Chowan uses the effective interest method of amortization. Prepare a bond interest expense and discount amortization schedule for the bonds through June 30, 2020.

Grocery Corporation received $300,328 for 11 percent bonds issued on January 1, 2021, at a market interest rate of 8 percent. The bonds had a total face value of $250,000, stated that interest would be paid each December 31, and stated that they mature in 10 years. Assume Grocery Corporation uses the effective-interest method to amortize the bond premium. Required: 1. & 2. Prepare the required journal entries to record the bond issuance and the first interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.) 1. Record the issuance of bonds with a face value of $250,000 for $300,328. 2. Record the interest payment on December 31.

On the July 1, 2021, Trials Corporation issued $17,500,000 of five-year, 12% bonds to finance its operations. The bonds were issued at a market (effective) interest rate of 10%, resulting in Trials Corporation receiving cash of $18,851,252. Interest is payable semiannualy on 12/31 and 6/30. The company uses the straight-line method to amortize the bond discount. REQUIRED: Journalize the entries to record the following: 07/01/21-issuance of the bonds 12/31/21- the first semiannual interest payment, including amortization of the bond discount. Round to the nearest dollar. 06/30/22- the second semiannual interest payment, including amortization of the bond discount. Round to the nearest dollar. Date Account Name Journal Entries Debi Credit

Lennar Inc. issued $100,000 of 10% bonds dated May 1, 2021 for $239,588. The bonds mature in 20 years. The effective interest rate for these bonds was 8%. Interest is paid semiannually on October 31 and April 30. Lennar's fiscal year is the calendar year. Lennar uses the effective interest method of amortization. Required: 1. Prepare the journal entry to record the bond issuance on May 1, 2021. 2. Prepare the necessary journal entry on October 31, 2021 (1st payment). 3. Prepare the adjusting entry for the accrued interest (for 2 months) on December 31, 2021

On January 1, 2018, Educators Credit Union issued 7%, 20-year bonds payable with a face value of $100,000. The bonds pay interest on June 30 and December 31. How do I Journalize the payment of interest and amortization on June​ 30, 2018.?

Riverbed Company issued $2,690,000, 9%, 20-year bonds on January 1, 2020, at 105. Interest is payable annually on January 1. Riverbed 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 the 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, 2020. (c) The payment of interest on January 1, 2021. (d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. Date Account Titles and Explanation Debit Credit > >

On March 31, 2021, Gardner Corporation received authorization to issue $50,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was dated March 31, 2021, but the bonds were not issued until April 30, 2021. They were issued at face value. a. Prepare the journal entry at April 30, 2021, to record the sale of the bonds. b. Prepare the journal entry at September 30, 2021, to record the semiannual bond interest payment. c. Prepare the adjusting entry at December 31, 2021, to record bond interest expense accrued since September 30, 2021. (Assume that no monthly adjusting entries to accrue interest expense had been made prior Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

On January 1, 2021, Sunrise Corporation issued $4,000,000, 8%, 5-year bonds dated January 1, 2021, at 95. The bonds pay annual interest on January 1. The company uses the straight-line method of amortization and has a calendar year end. Prepare all the journal entries that Sunrise Corporation would make related to this bond issue through January 1, 2022. Be sure to indicate the date on which the entries would be made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation

On January 1, 2019, P Sport Corporation issued 10% bonds with a face value of $200,000. The bonds are sold for $191,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. X Sport records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31, 2019 is:

On January 1, 2021, Hobart Services Ltd. issued $200,000 of 7% bonds at 98.Bonds are due January 1, 2026, with interest payable semi-annually on July 1 andJanuary 1.Required:• Calculate the bond price & the effective interest rate for the semi-annualinterest payments• Prepare a bond amortization schedule for the life of the bond• Prepare all the journal entries relating to the bond for 2021• Prepare a classified partial balance sheet as at December 3