Please fill in the blanks. Please note that annuities only have to be journalized once. 1.)...

Please fill in the blanks. Please note that annuities only have to be journalized once.

1.) Naldo Party Supplies Inc. issued $50,000, 6 year, 9% bonds. The market requires 10%. Interest payments are made semi-annually. Journalize the following using the corresponding letter as the date.

A) The issuance of the bonds. (2 accounts for debit 1 account for credit)

B) The first interest payment. (1 account for debit 2 accounts for credit)

C) The bond redemption. (1 account for debit 1 account for credit

2.) On March 13th Naldo Party Supplies obtains a 90 day, 8% $15,000 loan. Be sure to use the appropriate dates to journalize the following.

A) The acquisition of the loan. (1 account for debit and 1 account for credit)

B) The redemption of the loan. ( 2 accounts for debit and 1 account for credit)

Expert Solution

ekkarill92 answered 1 year ago

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