Required information [The following information applies to the questions displayed below] Electronic Arts incorporated is a global leader in digital interactive entertainment. We develop, market, publish and deliver games, content and services that can be played and watched on game consoles, PCs, mobile phones and tablets. Popular brands include Battlefield, The Sims, Madden NFL, and Star Wars. The company reported over $5.5 billion in revenue in a recent year Assume that as part of its cash management strategy, Electronic Arts purchased $11.3 million in bonds at par for cash on July 1 of the current year The bonds pay 9 percent interest annually, with payments on June 30 and December 31, and mature in 5 years. The company plans to hold the bonds until maturity 2. Record the receipt of interest on December 31 of the current year Note: If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars not in millions (.e., 1,000,000 not 1.0).
Required information [The following information applies to the questions displayed below] Electronic Arts incorporated is a global leader in digital interactive entertainment. We develop, market, publish and deliver games, content and services that can be played and watched on game consoles, PCs, mobile phones and tablets. Popular brands include Battlefield, The Sims, Madden NFL, and Star Wars. The company reported over $5.5 billion in revenue in a recent year Assume that as part of its cash management strategy, Electronic Arts purchased $11.3 million in bonds at par for cash on July 1 of the current year The bonds pay 9 percent interest annually, with payments on June 30 and December 31, and mature in 5 years. The company plans to hold the bonds until maturity 2. Record the receipt of interest on December 31 of the current year Note: If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars not in millions (.e., 1,000,000 not 1.0).
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter12: Valuation: Cash-flow Based Approaches
Section: Chapter Questions
Problem 10PC
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Please make sure debits and credits are clearly shown thanks!
![Required information
[The following information applies to the questions displayed below]
Electronic Arts Incorporated is a global leader in digital interactive entertainment. We develop, market, publish and
deliver games, content and services that can be played and watched on game consoles, PCs, mobile phones and
tablets. Popular brands include Battlefield, The Sims, Madden NFL, and Star Wars The company reported over $5.5
billion in revenue in a recent year.
Assume that as part of its cash management strategy, Electronic Arts purchased $11.3 million in bonds at par for cash
on July 1 of the current year. The bonds pay 9 percent interest annually, with payments on June 30 and December
31, and mature in 5 years. The company plans to hold the bonds until maturity
2. Record the receipt of interest on December 31 of the current year
Note: If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers
in whole dollars not in millions (.e.. 1,000,000 not 1.0).
Journal entry worksheet
<
Record the receipt of interest on December 31 of the current year.
Note: Enter debits before credits.
Date
December 31
Record entry
General Journal
Clear entry
Debit
Credit
View general Journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F950ebe63-1143-4363-a920-140224c3e4ad%2F1794137c-8dfc-4ee9-be20-4527f075f8bf%2F5noakcs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
Electronic Arts Incorporated is a global leader in digital interactive entertainment. We develop, market, publish and
deliver games, content and services that can be played and watched on game consoles, PCs, mobile phones and
tablets. Popular brands include Battlefield, The Sims, Madden NFL, and Star Wars The company reported over $5.5
billion in revenue in a recent year.
Assume that as part of its cash management strategy, Electronic Arts purchased $11.3 million in bonds at par for cash
on July 1 of the current year. The bonds pay 9 percent interest annually, with payments on June 30 and December
31, and mature in 5 years. The company plans to hold the bonds until maturity
2. Record the receipt of interest on December 31 of the current year
Note: If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers
in whole dollars not in millions (.e.. 1,000,000 not 1.0).
Journal entry worksheet
<
Record the receipt of interest on December 31 of the current year.
Note: Enter debits before credits.
Date
December 31
Record entry
General Journal
Clear entry
Debit
Credit
View general Journal
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