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On January 1, Year 1, Sayers Company issued $178,000 of five-year, 5 percent bonds at 103. Interest is payable semiannually on June 30 and December 31. The premium is amortized using the straight-line method.
Required
Question 1: Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
GENERAL JOURNAL
Question 2: Record the issue of bonds payable with premium. JAN 1 DEBIT CREDIT
Question 3: Record the interest expenses and amortization for bonds payable. (JUN 30) SAME THING
Question 4: Record the interest expenses and amortization for bonds payable. (DEC 31)
Question 5: Record the interest expenses and amortization for bonds payable. (JUN30)
Question 6: Record the interest expenses and amortization for bonds payable. (DEC 31) CREDIT DEBIT
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