Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $69,000 for $74,378 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31 Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 2 1 Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021

Question

4. Chapter 9 Homework

Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $69,000 for $74,378 on January 1, 2021. The market interest rate
for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31
Required:
1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event,
select "No Journal Entry Required" in the first account field. Round your intermediate computations and final answers to the
nearest whole dollar amount.)
View transaction list
Journal entry worksheet
2
1
Record the bond issue.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
January 01, 2021

Image Transcription

Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $69,000 for $74,378 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually on June 30 and December 31 Required: 1. & 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate computations and final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 2 1 Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021

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