S Weygandt, Accounting Principles, 12e Accounting Principles I&11 CBU 155 - 156
ID: 2336230 • Letter: S
Question
S Weygandt, Accounting Principles, 12e Accounting Principles I&11 CBU 155 - 156 Gradelbock ORION Downleadable eTextbook Problem 15-GA (Part Level Submission) e bond ay 1: 3017, the bonds wre dsted lanwary 1 and pay Interest annualy on ry 1 Paris Electric wases the straioht e Your answer is corredt. Prepare the journal entry to record the hsuance of the bonds on muary 1, 2017. (Credt account tiekes are automaticably indentied wh manualy.) Date Account Ttes and Explanation as. 1, 2037 [Cash Debi Credit bonds Payabe Click if you would Ske to Show Work for this question: Open h backspaceExplanation / Answer
Note: Part (a) and part (b) is done by you are correct. So I am doing part (c). of this question.
(C).
Date
Accounts Title & Explanation
Debit
Credit
Dec.31, 2017
Interest Expense
$391950
Premium on Bonds Payable
$10050
Cash
$402000
(For recording interest and amortization of premium in 2017)
Dec.31, 2018
Interest Expense
$391950
Premium on Bonds Payable
$10050
Cash
$402000
(For recording interest and amortization of premium in 2018)
Date
Accounts Title & Explanation
Debit
Credit
Dec.31, 2017
Interest Expense
$391950
Premium on Bonds Payable
$10050
Cash
$402000
(For recording interest and amortization of premium in 2017)
Dec.31, 2018
Interest Expense
$391950
Premium on Bonds Payable
$10050
Cash
$402000
(For recording interest and amortization of premium in 2018)
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