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  3. problem 146 your answer is partially correct try again presented...

Question: problem 146 your answer is partially correct try again presented...

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Problem 14-6 Your answer is partially correct. Try again. Presented below are selected transactions on the books of Bonita Corporation May 1, 2017 Bonds payable with a par value of $915,600, which are dated January 1, 2017, are sold at 105 plus accrued interest. They are coupon bonds, bear interest at 12% (payable annually at January 1), and mature January 1, 2027. (Use interest expense account for accrued interest.) Dec 31 Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium (Use straight-line amortization.) Jan. 1, 2018 Interest on the bonds is paid Apri Bonds with par value of $366,240 are called at 102 plus accrued interest, and redeemed. (Bond premium is to be amortized only at the end of each year.) c 3Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized Prepare journal entries for the transactions above. (Round intermediate calculations to 6 decimal places,e.g. 1.251247 and final answers to 0 decimal places, e.g. 38,548. If no entry is required, select No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered Do not indent manually.) Accesnt Titles and Euplanation Credi Bonds Payable Premium on Bonds Payable 53928 Interest Expense Dec, 31, 2017 Interest Expense 107856 Interest Payable 107856 (Te record the interest on Bonds Payable 371 (Te amrtine the promim
Date Account Titles and Explanation Debit Credit May 1, 2017 Cash 988680 Bonds Payable 898800 Premium on Bonds Payable 53928 Interest Expense 35952 Dec. 31, 2017 Interest Expense 107856 Interest Payable 107856 To record the interest) Premium on Bonds Payable 3719 Interest Expense 3719 To amontize the premium) Jan. 1, 2018 Interest Payable 107856 Cash 107856 Apr. 1, 2018 Bonds Payable 359520 Premium on Bonds Payable 19526 Interest Expense 10786 Cash 377496 Gain on Redemption of Bonds 12336 Dec. 31, 2018 Interest Expense 64714 Interest Payable 64714 To record the interest) Premium on Bonds Payable 3905 Interest Expens 3905 To amortize the premium)
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