Rickey Company borrowed money by issuing $1,500,000 of 6% bonds payable at 102.8...
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Rickey Company borrowed money by issuing $1,500,000 of 6% bonds payable at 102.8 on July 1,2021 . The bonds are five-year bonds and pay interest each January 1 and July 1 . Read the requirements. 1. How much cash did Rickey receive when it issued the bonds payable? Journalize this transaction. When it issued the bonds payable, Rickey received Requirements 1. How much cash did Rickey receive when it issued the bonds payable? Journalize this transaction. 2. How much must Rickey pay back at maturity? When is the maturity date? 3. How much cash interest will Rickey pay each six months? 4. How much interest expense will Rickey report each six months? Use the straight-line amortization method. Journalize the entries for the accrual of interest and the amortization of premium on December 31, 2021, and payment of interest on January 1, 2022
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Rickey Company borrowed money by issuing $1,500,000 of 6% bonds payable at 102.8 on July 1,2021 . The bonds are five-year bonds and pay interest each January 1 and July 1 . Read the requirements. 1. How much cash did Rickey receive when it issued the bonds payable? Journalize this transaction. When it issued the bonds payable, Rickey received Requirements 1. How much cash did Rickey receive when it issued the bonds payable? Journalize this transaction. 2. How much must Rickey pay back at maturity? When is the maturity date? 3. How much cash interest will Rickey pay each six months? 4. How much interest expense will Rickey report each six months? Use the straight-line amortization method. Journalize the entries for the accrual of interest and the amortization of premium on December 31, 2021, and payment of interest on January 1, 2022 