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on january 1st, year 1, a company issues $390,000 of 7% bonds, due in 10 years,...

on january 1st, year 1, a company issues $390,000 of 7% bonds, due in 10 years, with interest payable semiannually on june 30 and December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $419,013.

I need the answers for 1/1 year 1 carrying value:

6/30/year 1: ___________ cash paid, _____________ interest expense, _________________ change in carrying value, _________________ carrying value

12/31/year 1: ___________ cash paid, _______________ interest expense, _____________ change in carrying value, _____________ carrying value.

Then same question: I need the journal entries for: January 1st. requires the "Record the bond issue" June 30th requires: the " Record the first semiannual interest payment" December 31: requires the " Record the second semiannual interest payment."

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ekkarill92 answered 1 year ago
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