https//edugen wileyplus.com/edugen/student/mainfr.uni CES Problem 15-2A Ker a El

Question

https//edugen wileyplus.com/edugen/student/mainfr.uni CES Problem 15-2A Ker a Electric sold $4,510,00, 14% sold at 97. 10-year bonds on January 1, 2017 The bonds were dated January 1, 2017, and pai 2 Your answer is partially correct. Try again. udy Prepare the journal entry to record the isuance of the bonds on January 1, 2017. (Credit account titles are automatical Do not indent manually.) Date Account Titles and Explanation Jan. 1, 2017 Debit Credit 4374700 Discount on Bonds Payable 135 Bonds Payable 4510000 Your answer is correct At December 31, 2017, $7,600 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presen December 31, 2017. (Enter account name only and do not provide descriptive information.) Kershaw Electric Balance Sheet (Partial) earch

Explanation / Answer

Journal entry :

Date account and explanation debit credit Jan 1,2017 Cash 4374700 Discount on bonds payable 135300 Bonds payable 4510000 (To record bond issue) Jan 1,2019 Bonds payable 4510000 Loss on redemption 345600 Discount on bonds payable 120100 Cash 4735500 (To record bond redemption)

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