Transcribed Image Text: THIS QUESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos). QUESTION 9 On the first day of the fiscal year, a company issues a $828,000,

Transcribed Image Text: THIS QUESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos).
QUESTION 9
On the first day of the fiscal year, a company issues a $828,000, 12%, 10-year bond that pays semiannual interest of $49,680, receiving cash of $869,400.
Journalize the entry for the first interest payment and amortiation of premium using the straight-line method and the chart of accounts below.
Bonds Payable
Cash
Discount on Bonds Payable
Interest Revenue
Gain on Redemption of Bonds
Interest Expense
Interest Payable
Loss on Redemption of Bonds
Premiun on Bonds Payable
Enter your answers into the table below.
Key the account names carefully (exactly as shown above) and follow formatting instructions below.
DO NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY.
WHEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK.
Account
Debit
Credit
THIS QUESTION WILL ALSO BE CHECKED MANUALLY (to make adjustments for typos).
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