help pleass E10-9 (Algo) Indicating the Effects of a Premium Bond Issue...
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E10-9 (Algo) Indicating the Effects of a Premium Bond Issue and Interest Payment on the Financial Statements [LO 10-3] Grocery Corporation recelved $301,001 for 13,50 percent bonds issued on January 1,2021, at a market interest rate of 10.50 percent. The bonds had a total face value of $255,000, stated that interest would be paid each December 31 , and stated that they mature in 10 years. Required: Prepare the following table for each account by indicating (d) whether it is reported on the Balance Sheet (B/S) or Income Statement (US); (b) the dollar amount by which the account increases, decreases, or does not change when Grocery Corporation issues the bonds; and (c) the direction of change in the account [increase, decrease, or no change] when Grocery Corporation records the interest payment on December 31
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