Exercise 21-8 (Algo) Determine cash paid for bond interest [LO21-3]
For each of the four independent situations below, prepare a single journal entry that summarizes the recording and payment of interest and determine the amount of cash paid for bond interest. All dollars are in millions.
Complete this question by entering your answers in the tabs below.
Cash Paid for
General
Interest
Journal
Calculate the amount of cash paid for bond interest.
Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).
able[[Situation, able[[Interest],[Expense]], able[[Interest Payable Increase],[(Decrease)]], able[[Unamortized Discount],[Increase (Decrease)]], able[[Cash Paid for],[Interest]]],[1,39,0,0,],[2,39,7.8,0,],[3,39,0,(11.7),],[4,39,(7.8),(11.7),]]
I NEED JOUNAL ENTRY ANSWERS TOO
Exercise 21-8 (Algo) Determine cash paid for bond interest [LO21-3]
interest and determine the amount of cash paid for bond interest. All dollars are in millions.
Complete this question by entering your answers in the tabs below.
Cash Paid for Interest
General Journal
Calculate the amount of cash paid for bond interest. Note: Enter your answers in millions rounded to 1 decimal place i.e.,5,500,000 should be entered as 5.5 Interest Payable Increase Unamortized Discount Cash Paid for Interest Situation Expense (Decrease Increase(Decrease) Interest 1 39 0 2 39 7.8 39 0 11.7 3 39 (7.8 11.7 4
Cash Paid for Interest
General Journal