Pleasw answer required 1,2 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31,2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Roundyour answers to the nearest dollar amount.)Vlew journat entry workaheetView transaction listNoDateGeneral JournalDebitCreditJanuary 01, 2021 Cash1Bonds Payable2June 30, 2021Interest ExpenseCashDecember 31,2021Interest Expense3Cash heducation.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Flms.mheduca. *#3 6Save & ExitSubmitSavedHelpOn January 1, 2021, a company issues $710,000 of 10% bonds, due in twelve years, with interest payable semiannually on June 30 andDecember 31 each year. Assuming the market interest rate on the issue date is 11%, the bonds will issue at $663,311,Required:1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts aspositive values.)Change inCarrying ValueInterestDateCash PaidCarrying ValueExpense01/01/20212,1302,13006/30/202136.48212/31/2021

>Bonds Payable are the source of finance for the companies. >The bondholders are…

On January 1, 2021, a company issues $710.000 of 10% bonds, due in twelve years, with interest payable semiannuaily on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 11%, the bonds will issue at $663,311, Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Carrying Value Interest Date Cash Paid Expense 01/01/2021 36,482 2,130 S 2.130 06/30/2021 12/31/2021

On January 1, 2021, a company issues $710.000 of 10% bonds, due in twelve years, with interest payable semiannuaily on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 11%, the bonds will issue at $663,311, Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) Change in Carrying Value Carrying Value Interest Date Cash Paid Expense 01/01/2021 36,482 2,130 S 2.130 06/30/2021 12/31/2021

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter14: Long-term Liabilities: Bonds And Notes

Section: Chapter Questions

Problem 6PA: Saverin, Inc. produces and sells outdoor equipment. On July 1, 2016, Saverin, Inc. issued 62,500,000...

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