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CALCULATOR PRINTER VERsoN BACK ACC 112 Project 1D Following are independent situations Your answer is partially correct. Try again. Nicholas Ram Corporation have a $2,400,000 "bond issue" dated March 1, 2016 due in 15 years with an annual interest rate of 10%. Interest is payable March 1 and September 1. On August 1, 2016, the bond was sold for $2,478,750 plus accrued interest Using the straight-line method, prepare the general journal entries for each of the folowing a) The issuance of the bond on August 1, 2016 b) Payment of the semi-annual interest and the amortization of the premium on September 1, 2016 e) Accrual of the interest and the amortization of the premium on December 31, 2016 d) Payment of the semi-annual interest and the amortization of the premium on March 1, 2017 (Credit account titles are automatically indented when the amount is entered. Do not indent manually, Do not use dollar signs (8) when entering amounts. To see comma formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers te 2 decimal places, eg. 5,275.25) Date Account Tles and Explanation Debit Credit 2016 Aug 2,478,750.0 Cash 78750 Premuim on Bonds Payable 2400000 Bands Payable Sept. Bond teterest Expense 12,512.50 12,512.50 Sept. 1 Bond Interest Expense x Discount on Bonds Payable 437.50 12,950 Cash Dec. 31 Bond Interest Expense 78250 Premuim on Bonds Payable 1750 80,000 Bond Interest Payable 2017 Mar. 1 Bond Interest Expense 39125 Bond Interest Payable 80000 Discount on Bonds Payable 875 120000 Cash CALCULATOR PRINTER VERS3ON 4BACK NEX Your answer is partially correct. Try again. Stephanie Ram Corporation have a $760,000 "bond issue" dated February 1, 2016 due in 10 years with an annual interest rate of 9%. Interest is payable February 1 and August 1. On April 1, 2016, the bond was sold for $677,400 plus accrued interest. Using the strailght-line method, prepare the general journal entries for each of the following: a) The issuance of the bond on April 1, 2016. b) Payment of the semi-annual interest and the amortization of the discount on August 1, 2016 c) Accrual of the interest and the amortization of the discount on December 31, 2016 d) Payment of the semi-annual interest and the amortization of the discount on February 1, 2017 (Credit account titles are automatically indented when the amount is entered. Do notindent manually. Do not use dollar signs ($) when entering amounts. To see comma formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, e-g. 5,275.25.) Account Titles and Explanation Debit Date Credit 2016 677400 Apr. 1 Cash 82600 Discount on Bonds Payable 760000 Bonds Payable 6388.33 Aug. 1 Bond Interest Expense 688.33 Discount on Bonds Payable 5700 Cash 21 X X Dec. 31 25533.33 Bond Interest Expense 2753.33 Discount on Bonds Payable Bond Interest Payable 22800 2017 Feb. 1 Bond Interest Expense 12776.67 X Bond Interest Payable 22800 Discount on Bonds Payable 1376.67 Cash 34200 Before moving onto tho

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