L. mheducation.com./hm.tpx?--0.3394837999994823-151 cise 101 value. 3.00 points

Question

L. mheducation.com./hm.tpx?--0.3394837999994823-151 cise 101 value. 3.00 points On January 1, 2013, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31 . The bonds are sold at par 1. How much interest will Boston pay (in cash) to the bondholders every six months? ar (maturity) Value Semiannual Cash Interest P Rate 2 Prepare journal entries for the foilowring 3 The issuance of bonds on January 1, 2013 ow transaction Wel Journal entry worksheet Racerd the ssue of bonds at par on January 1. 2013 Date General Journal Debit Credit 0 Type here to

Explanation / Answer

Solution:

1. $3,400,000 x 4.5% = $153,000

2. Journal entry

Cash Debit 3,400,000
Bond payable Credit 3,400,000

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