Medhurst Corporation issued $86,000 in bonds for $83,400. The bonds had a stated rate of 8% and pay interest quarterly. What is the journal entry to record the first interest payment? If an amount box does not require an entry, leave it blank.
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A: Preapre the journal entry to record the issuance of the bonds:
Medhurst Corporation issued $86,000 in bonds for $83,400. The bonds had a stated rate of 8% and pay interest quarterly.
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- On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The bonds had a stated rate of 6% and paid interest semi-annually. What is the journal entry to record the first payment to the bondholders?Medhurst Corporation issued $86,100 in bonds for $83,000. The bonds had a stated rate of 8% and pay interest quarterly. What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank.On Jan. 1, Year 1, Foxcroft Inc. issued 90 bonds with a face value of $1,060 for $99,400. The bonds had a stated rate of 5% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank. Jun. 30 Interest Expense Interest Expense Cash Cash
- Help meOn Jan. 1, Year 1, Nadal Inc. issued 100 bonds with a face value of $1,000 each for $103,500. The bonds had a stated rate of 5% and paid interest semiannually. Premium on Bonds Payable Interest Income Discount on Bonds Payable Interest Expense Cash Bonds Payable PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). What is the journal entry to record the issuance of the bonds? DR DR/CR ? CR What is the journal entry to record the first interest payment? (Note: Do not consider the premium or discount.) DR CROn Jan. 1, Year 1, Foxcroft Inc. issued 110 bonds with a face value of $990 for $112,200. The bonds had a stated rate of 10% and paid interest semiannually. What is the journal entry to record the first payment to the bondholders? If an amount box does not require an entry, leave it blank. Jun. 30 Interest Expense Cash v
- Cullumber Corporation issues $430,000 of bonds for $447,200. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation eTextbook and Media List of Accounts Debit CreditOn Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $910 for $94,800. The bonds had a stated rate of 6% and paid interest semi-annually. What is the journal entry to record the issuance of the bonds? If an amount box does not require an entry, leave it blank. Jan. 1Federer Corporation issued $540,000 in bonds for $498,600. The bonds had a stated rate of 12% and pay interest quarterly. Premium on Bonds Payable Interest Income Discount on Bonds Payable Interest Expense Cash Bonds Payable PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). What is the journal entry to record the issuance of the bonds? DR DR/CR ? CR What is the journal entry to record the first interest payment? (Note: Do not consider the premium or discount.) DR CR
- Federer Corporation issued $540,000 in bonds for $498,600. The bonds had a stated rate of 12% and pay interest quarterly. Premium on Bonds Payable Interest Income Discount on Bonds Payable Interest Expense Cash Bonds Payable PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). What is the journal entry to record the issuance of the bonds? DR DR/CR ? CR What is the journal entry to record the first interest payment? (Note: Do not consider the premium or discount.) DR CROn Jan. 1, Year 1, Nadal Inc. issued 100 bonds with a face value of $1,000 each for $103,500. The bonds had a stated rate of 5% and paid interest semiannually. Premium on Bonds Payable Interest Income Discount on Bonds Payable Interest Expense Cash Bonds Payable PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). • What is the journal entry to record the issuance of the bonds? DR DR/CR ? CR What is the journal entry to record the first interest payment? (Note: Do not consider the premium or discount.) DR CRTHIS QUESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos). QUESTION 9 On the first day of the fiscal year, a company issues a $828,000, 12%, 10-year bond that pays semiannual interest of $49,680, receiving cash of $869,400. Journalize the entry for the first interest payment and amortiation of premium using the straight-line method and the chart of accounts below. Bonds Payable Cash Discount on Bonds Payable Interest Revenue Gain on Redemption of Bonds Interest Expense Interest Payable Loss on Redemption of Bonds Premiun on Bonds Payable Enter your answers into the table below. Key the account names carefully (exactly as shown above) and follow formatting instructions below. DO NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY. WHEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK. Account Debit Credit THIS QUESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos). Click Save and Submit to save and submit. Click…