January 1, 2024, Nurses Credit Union (NCU) issued 7%, 20-year bonds payable with face value of $1,100,000. These bonds pay interest on June 30 and December The issue price of the bonds is 102. Journalize the following bond transactions: (Click the icon to view the bond transactions.) ssume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal try. Round your answers to the nearest whole dollar.) Paid semiannual interest and amortized premium. d. Journalize the retirement of the bond at maturity on December 31, 2043, assuming the last interest payment has already been recorded. Accounts and Explanation Credit Date 2043 Dec. 31 Debit

January 1, 2024, Nurses Credit Union (NCU) issued 7%, 20-year bonds payable with face value of $1,100,000. These bonds pay interest on June 30 and December The issue price of the bonds is 102. Journalize the following bond transactions: (Click the icon to view the bond transactions.) ssume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal try. Round your answers to the nearest whole dollar.) Paid semiannual interest and amortized premium. d. Journalize the retirement of the bond at maturity on December 31, 2043, assuming the last interest payment has already been recorded. Accounts and Explanation Credit Date 2043 Dec. 31 Debit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6PB: Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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