Requirements 1. Answer the following questions about Bob's bonds payable: a. What is the...
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Requirements 1. Answer the following questions about Bob's bonds payable: a. What is the maturity value of the bonds? b. What is the carrying amount of the bonds at December 31, 2026? c. What is the semiannual cash interest payment on the bonds? d. How much interest expense should the company record each year? 2. Record the June 30, 2026, semiannual interest payment and amortization of discount Bob's Hamburgers issued 9%, 10-year bonds payable at 75 on December 31, 2024. At December 31, 2026, Bob reported the bonds payable as follows: (Click the icon to view the bonds payable.) Bob's pays semiannual interest each June 30 and December 31. (Assume bonds payable are amortized using the straight-line amortization method.) Read the requirements Requirement 1. Answer the following questions about Bob's bonds payable: a. What is the maturity value of the bonds? $ 200.000 - X Data Table b. What is the carrying amount of the bonds at December 31, 2026? $ 160,000 c. What is the semiannual cash interest payment on the bonds? $ 9,000 Long-term Liabilities: Bonds Payable $ 200,000 d. How much interest expense should the company record each year? Less: Discount on Bonds Payable (40,000) $ 160,000 Print Done
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