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2 of 3 (2 complete) HW Score: 22.52%, 3.38 of 15 pts Score: 1.35 of...

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Accounting

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2 of 3 (2 complete) HW Score: 22.52%, 3.38 of 15 pts Score: 1.35 of 5 pts WP12-35A (similar to) Question Help On January 1, 2018, Nurses Credit Union (NCU) issued 7%, 20-year bonds payable with face value of $200,000. These bonds pay interest on June 30 and December 31. The issue price of the bonds is 107. Journalize the following bond transactions: (Click the icon to view the bond transactions.) (Assume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.) a. Journalize the issuance of the bonds on January 1, 2018. Date Accounts and Explanation Debit Credit 2018 Jan. 1 214,000 Cash Premium on Bonds Payable Bonds Payable 14,000 200,000 Issued bonds at a premium. Debit Credit b. Journalize the payment of interest and amortization on June 30, 2018 Date Accounts and Explanation | 2018 Jun. 30

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