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Accounting 2102 Long Term Liabilities Assignment 1. Lucy Company signed a 4-year, 6.5%, $160,000 note payable. They are required to make annual payments of $40,000 (principal), and interest owed. a. Journalize the issuance of the note b. Journalize the first two annual payments 2. Rouxdy Co. purchased a building that cost $450,000. They paid 10% and signed a 15-year, 6%, mortgage payable for the remainder a. Journalize the issuance of the mortgage payable b. Journalize the first monthly payment of $3,417.62 3. Keaubie Co. issued $300,000, 8%, 15-year bonds payable at a price of 104, on Jan. 1 a. Journalize the issuance of the bonds b. Journalize the first semi-annual interest payment and amortization of the discount or premium. 4. Keaubie Co. issued $100,000, 6%, 15-year bonds payable at a price of 97, on Jan. 1 a. Journalize the issuance of the bonds b. Journalize the first semi - annual interest payment and amortization of the discount or premium. 5. Baylee Co. issued $120,000 of 5%, 10-year bonds payable on Jan. 1, 2017 at par (face) value. a. Journalize the issuance of the bonds b. Journalize the first annual interest payment of the bonds on Dec. 31 6. Lucy Company signed a 5-year, 5%, $250,000 note payable. They are required to make annual payments of $50,000 (principal), and interest owed. a. Journalize the issuance of the note b. Journalize the first two annual payments 7. Rouxdy Co. signed a 20-year, 5%, $375,000 mortgage payable. Journalize the issuance of the mortgage payable b. Journalize the first monthly payments of $2,474.83

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