Answer Happy

Worldview Magazine issued $300,000 of 15-year, 9% callable bonds payable on July 31, 2024, at 99. On July 31, 2027, Worldview called the bonds at 103. Assur annual interest payments Requirements. 1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2027. 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2027. No explanation is required the straight-line amortization method) First, complete the sentence below The carrying amount of the bonds payable at issuance (July 31, 2024) is $ 3,000 issuance amounts to Date 2027 Jul 31 Bonds Payable Loss on Retirement of Bonds Payable Discount on Bonds Payable Cash UGMENT Y $ 297,600 $ 297,000 The The carrying amount of the bonds payable at July 31, 2027 is Requirement 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2027 No explanation is required (Record debits first, then credits Exclude explanations from any journal entries). Accounts Debit 300,000 discount. on the bonds at Credit
At December 31, MediMark Precision Instruments owes $53,000 on Accounts Payable, Salaries Payable of $13,000, and Income Tax Payable of $12,000. MediMark also has $240,000 of Bonds Payable that were issued at face value that require payment of a $20,000 installment next year and the remainder in later years. The bonds payable require an annual interest payment of $7,000, and MediMark still owes this interest for the current year. Report MediMark's liabilities on its classified balance sheet on December 31, 2024 Balance Sheet (Partial) December 31, 2024 Liabilities GLAD