Problem #2 WAPA ISsued $15,000,000, 7.8%, 20-vear bonds to vield 9% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14.233,448. Using effective-interest amortization, answer the following questions: (2a) Complete the following chart: Discount Amort. Carrying Amou Dates Cash Paid Interest Expense Jan 1, 2020 June 30, 2020 December 31, 2020 June 30, 2021 December 31, 2021 (2b) Provide the journal entry on for December 2021:

Problem #2 WAPA ISsued $15,000,000, 7.8%, 20-vear bonds to vield 9% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14.233,448. Using effective-interest amortization, answer the following questions: (2a) Complete the following chart: Discount Amort. Carrying Amou Dates Cash Paid Interest Expense Jan 1, 2020 June 30, 2020 December 31, 2020 June 30, 2021 December 31, 2021 (2b) Provide the journal entry on for December 2021:

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 86E

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