Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questi

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Problem 14 4a Algo Straight Line Amortization Of Bond Discount Lo P2 The Following Information Applies To The Questi 1 (47.43 KiB) Viewed 8 times

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Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy Issues $670,000 of 6.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $624,896 when the market rate is 8% Problem 14-4A (Algo) Part 1 Required: 1. Prepare the January 1 journal entry to record the bonds" issuance. View transaction list Journal entry worksheet < 1 Record the issue of bonds with a par value of $670,000 on January 1, 2021 at an issue price of $624,896. Note: Enter debits before credits. Date January 011 General Journal Debit Credit

APRANTAR Sanace PALMER MENS payments of Par value at maturity Problem 14-4A (Algo) Part 2 Total repaid Less amount borrowed Total bond interest expense ESCLETES Required information Problem 14-4A (Algo) Straight-Line: [The following information applies to the questions displayed below] king MALTES Total bond interest expense over life of bonds: Amount repaid: Legacy issues $670,000 of 6.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 3 December 31. They are issued at $624,896 when the market rate is 8%. B BROSSA FORAND A 2. Determine the total bond interest expense to be recognized over the bonds' life. $ Amortization of bond discount LO P2 0 0

Required information Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy Issues $670,000 of 6.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $624,896 when the market rate is 8%. Problem 14-4A (Algo) Part 3 3. Prepare a straight-line amortization table for the bonds' first two years. (Round your intermediate and final answers to the nearest whole dollar.) Semiannual Period-End 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Unamortized Discount Carrying Value

Required information Problem 14-4A (Algo) Straight-Line: Amortization of bond discount LO P2 [The following information applies to the questions displayed below] Legacy issues $670,000 of 6.0%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. They are issued at $624,896 when the market rate is 8% Problem 14-4A (Algo) Part 4 4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet < 1 2 Record the interest payment and amortization on June 30. Note: Enter debits before credits. Date June 30 General Joumal Debit Credit