21) If a bond's stated rate of interest is equal to the market rate of interest, the bond will be issued at __________.
22) If the market rate of interest is greater than the bond's stated rate of interest, the bond will be issued at __________.
23) If the bond's stated rate of interest is greater than the market rate of interest, the bond will be issued at __________.
24) A $300,000 issue of bonds that sold at 105 will cost __________.
25) A $150,000 issue of bonds that sold at 93.8 will cost __________.
26) Using the information below, write the journal entry to record the payment of the bond on the maturity date.
A $250,000 issue of bonds that sold for $275,000 matures on June 25, 2020.
27) Using the information below, write the journal entry to record the payment of the bond on the maturity date.
A $400,000 issue of bonds that sold for $363,000 matures on August 1, 2015.
28) Journalize the following bond issues:
June 12 Issued $500,000 at 98.
June 18 Issued $250,000 at 106.
June 22 Issued $350,000 at 100.