The Gonzalez Group issued $830,000 of 9% bonds on June 30, 2024, for $912,141. • The bonds were dated on June 30 and mature on June 30, 2044 (20 years). The market yield for bonds of similar risk and maturity is 8%. • Interest is paid semiannually on December 31 and June 30. Required: 1. to 3. Prepare the journal entries to record their issuance by The Gonzalez Group on June 30, 2024, interest on December 31, 2024 and interest on June 30, 2025 (at the effective rate). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the bond on June 30, 2024. Date June 30, 2024 Note: Enter debits before credits. General Journal Debit Credit

The Gonzalez Group issued $830,000 of 9% bonds on June 30, 2024, for $912,141. • The bonds were dated on June 30 and mature on June 30, 2044 (20 years). The market yield for bonds of similar risk and maturity is 8%. • Interest is paid semiannually on December 31 and June 30. Required: 1. to 3. Prepare the journal entries to record their issuance by The Gonzalez Group on June 30, 2024, interest on December 31, 2024 and interest on June 30, 2025 (at the effective rate). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the bond on June 30, 2024. Date June 30, 2024 Note: Enter debits before credits. General Journal Debit Credit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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