Mi-T-M Corporation is a leading designer and manufacturer of high quality industrial equipment. Mi-T- M Corporation Issues $540,000 of 7% bonds on January 1, 2021 to finance operations. The bonds are due in 10 years. Interest is paid semiannually on June 30 and December 31. 3. If the market interest rate is 6%, the bonds will issue at $580,169. 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 fleld. Round your answers to the nearest dollar amount.)
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- Chung Inc. issued $50,000 of 3-year bonds on January 1, 2018, with a stated rate of 4% and a market rate of 4%. The bonds paid interest semi-annually on June 30 and Dec. 31. How much money did the company receive when the bonds were issued? The bonds would be quoted at what rate?Diana Inc. issued $100,000 of its 9%, 5-year bonds for $96,149 when the market rate was 10%. The bonds pay interest semi-annually. Prepare an amortization table for the first three payments.Required information [The following information applies to the questions displayed below.] On January 1, 2024, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $410,000 of 6% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. 2. If the market interest rate is 7%, the bonds will issue at $372,296. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for à particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 2 Record the bond issue. Nota: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit
- Mi-T-M Corporation is a leading designer and manufacturer of high quality industrial equipment. Mi-T- M Corporation issues $500,000 of 7% bonds on January 1, 2021 to finance operations. The bonds are due in 20 years. Interest is paid semiannually on June 30 and December 31. Required: 1. If the market interest rate is 7%, the bonds will issue at $500,000. 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.) View transaction list Journal entry worksheet < 1 2 3 Record the second semiannual interest payment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021Mi-T-M Corporation is a manufacturer of high quality industrial equipment including power washers and generators. On Jan 1 2021, the company issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and Dec 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968. The carrying value of the bond on 6/30/2021 is A.None of the above B.$747,968 C.$751,360 D.$749,627On January 1, 2024, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $420,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. 3. If the market interest rate is 5%, the bonds will issue at $452,737. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. I just need help with the journal entry. First one is recording the bond issue, second is the first semiannual interest payment, and third is the second semiannual interest payment.
- On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $600,000 of 8% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. 2. If the market interest rate is 9%, the bonds will issue at $544,795. 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 answers to the nearest dollar amount.)Viking Voyager specializes in the design and production of replica Viking boats. On January 1, 2021, the company issues $1,860,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. 3. If the market interest rate is 6%, the bonds will issue at $2,042,284. 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 answers to the nearest dollar amount.)On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $550,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. If the market interest rate is 7%, the bonds will issue at $550,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021
- On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $570,000 of 8% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. If the market interest rate is 9%, the bonds will issue at $517,555. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. Record the bond issue. Record the first semiannual interest payment. Record the second semiannual interest payment. In this format in this picture below:Viking Voyager specializes in the design and production of replica Viking boats. On January 1, 2021, the company issues $1,860,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. 1. If the market interest rate is 7%, the bonds will issue at $1,860,000. 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.)On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $600,000 of 8% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1. If the market interest rate is 8%, the bonds will issue at $600,000. 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.)