1 0 year + bonds+ payable+ at·98&aqsachrome.6; Take a Test- Taylor Beck -Google

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1 0 year + bonds+ payable+ at·98&aqsachrome.6; Take a Test- Taylor Beck -Google Chrome https://www.mathxl.com/Student/PlayerTest.aspx?testid-124392113&centerwinyes; Taylor Beck 2/4/16 8:54 pM Test: Test 1: Chapters 1, 2 and 3 Overview This Question: 18 pts This Test: 100 pts Time R 01:03:13 Russell issued $200,000, 12%, 10-year bonds payable at 98 on January 1, 2014. 6. Journalize the issuance of the bonds payable on January 1, 2014 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2014 8. Assume the bonds payable was instead issued at 110 Joumalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond discount or premium. 6. Journalize the issuance of the bonds payable on January 1, 2014 Debit Credit Accounts and Explanation Date 2014 Jan. 1 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2014 Debit Credit Date Accounts and Explanation 2014 Jul 1

Explanation / Answer

6)

7)

8)

Date Account Title & Explaination Debit Credit Jan 1 2014 Cash 196000 Discount on Bonds Payable 4000 Bonds Payable 200000

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