Can someone help me step by step calculate the numbers. Thanks 33% Fri 12:49...
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Can someone help me step by step calculate the numbers. Thanks
33% Fri 12:49 PM Q E On January 1, 2021. Splash City issues $380,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $414,946. 2. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) Credit No 1 Debit 414.946 Date General Journal January 01, 2021 Cash Premium on Bonds Payable Bonds Payable 34,946 380,000 2 June 30, 2021 14.523 Interest Expense Premium on Bonds Payable Cash OOO OOO OOO 677 15.200 3 December 31, 202 Interest Expense Premium on Bonds Payable Cash 14,499 701 15,200
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Can someone help me step by step calculate the numbers. Thanks