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CALCULATOR pRİN TER VERSION | | . BACK FULL SCREEN NEXT Brief Exercise 14-6 On January 1, 2017, Marigold Corporation issued $520,000 of 7% $484,667, and pay interest each July 1 and January 1. Marigold uses the effective-interest method. bonds, due in 10 years. The bonds were issued for Prepare the companys journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%. (Round 1.251247 and final answer 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) intermediate calculations to 6 decimal places, e.g. No. Date Account Titles and Explanatiorn Debit Credit (a) Jan. 1, 2017
Accumulated Depreciation-Equipment Accumulated Depreciation-Machinery Allowance for Doubtful Accounts Bad Debt Expense Bond Issue Expense Bonds Payable Buildings Cash Common Stock Debt Investments Depreciation Expense Discount on Bonds Payable Discount on Notes Payable Discount on Notes Receivable Equipment Equity Investments Gain on Disposal of Machinery Gain on Disposal of Land Gain on Disposal of Plant Assets Gain on Redemption of Bonds Gain on Restructuring of Debt Gain on Sale of Machinery Interest Expense Interest Payable Interest Receivable Interest Revenue Land Loss on Disposal of Land Loss on Redemption of Bonds Machinery Mortgage Payable No Entry Notes Payable Notes Receivable Paid-in Capital in Excess of Par - Common Stocik Paid-in Capital in Excess of Par- Preferred Stock Premium on Bonds Payable Sales Revenue Unamortized Bond Issue Costs Unearned Revenue Unearned Sales Revenue Unrealized Holding Gain or Loss Income
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aγ Value of bonds: 520,000 Less Issued price of bon ds 4 4,67 ices 35,333 Bow d discount Amolizałion effecdiue. intercst Method -semi -annuel paymn nter cst lo 35}, 18,200 Ansia Interest Discount enemt d Casyiu @ issGil , @ 4}. JAN 19,386 68 484,67 x 4 17,434 15 1,186.6 34,14632 45, 8 53- 4251 853. to de 484, 64 an I 35,333 Discovnt on bonds poyable af 520,00 0 Bonds payabl To 11,386-6 To Cash 18,20 0 To Discoont on bon ds pqyab a/e To Discoont on bonds pagabl 118 6.63 Dec 3r Intnest ел pense 11, 434 Is 13,20 o 1234 IS

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