Required 1. Joumaloe the entry to record the amount of cash proceeds from the assuance of he bonds. 2 Joumaloe he entres to record he folong a The frst semannual nterest payment on December 21, 20v1, and the amortizaton of the bond discount using the nterest method (Round t the nearest dolar) The nterest payment on Ane 30. 2012, and he amortcaton of he bond dscount uang he nterest method Round to me nearest daar) 3. Delermne the total terest expense for 20Y1. "Reler to the Chart of Accounts for exact wording of account tiles
Required 1. Joumaloe the entry to record the amount of cash proceeds from the assuance of he bonds. 2 Joumaloe he entres to record he folong a The frst semannual nterest payment on December 21, 20v1, and the amortizaton of the bond discount using the nterest method (Round t the nearest dolar) The nterest payment on Ane 30. 2012, and he amortcaton of he bond dscount uang he nterest method Round to me nearest daar) 3. Delermne the total terest expense for 20Y1. "Reler to the Chart of Accounts for exact wording of account tiles
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter12: Long-Term Liabilities: Bonds And Notes
Section: Chapter Questions
Problem 12.2APR
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I need help figuring out the Interest Expense and Discount on Bonds Payable amounts for June 30. Attached are the instructions and results I have so far. I believe the answer to the June 30 will be Interest Expense = $1,494,934 and Discount on Bonds = $94,934 but I'm not sure how to get the figures. Can you please help?
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