CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER Brief Exercise 10-16 (Part Level Submission) Metlock, Inc....
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CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER Brief Exercise 10-16 (Part Level Submission) Metlock, Inc. issues $3.3 million, 5-year, 12% bonds at 104, with interest payable on January 1. The straight-line method is used to amortize bond premium. (a) Your answer is correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 3432000 Premium on Bonds Payable 132000 Bonds Payable | 3300000 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT Date Account Titles and Explanation Debit Credit Jan. 1 Cash 3432000 Premium on Bonds Payable 132000 2 Bonds Payable 3300000 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT Att (b) Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2022, assuming no previous accrual of inte indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31
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