51On January 1, 2014, Davie Services issued $20,000 of 8% bonds that mature in five years. They were sold at par. The bonds pay semiannual interest payments on June 30 and December 31 of each year. Please provide the journal entry for the payment made on June 30, 2014.
52On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $10,900. They were 5-year bonds with a stated rate of 4%, and pay semiannual interest payments. Mahoney Sales uses the straight-line method to amortize the bond premium. Please provide the journal entry for the first interest payment to be made on June 30, 2014.
53On November 1, 2013, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at par, and make semiannual payments on April 30 and October 31. At December 31, 2013, Archangel made an adjusting entry to accrue interest at year-end. Please provide that journal entry.
54On November 1, 2013, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at par, and make semiannual payments on April 30 and October 31. At December 31, 2013, Archangel made an adjusting entry to accrue interest at year-end. No further entries were made until April 30, 2014, when the first payment was sent out. Please provide the journal entry for this payment.
55On November 1, 2013, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at discount for $191,000, and make semiannual payments on April 30 and October 31. At December 31, 2013, Archangel made an adjusting entry to accrue interest at year-end. Please provide that entry.
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56On November 1, 2013, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at a discount for $191,000, and make semiannual payments on April 30 and October 31. At December 31, 2013, Archangel made an adjusting entry to accrue interest at year-end. No further entries were made until April 30, 2014 when the first interest payment was made. Please provide the journal entry for that payment.
57McDonald Sales prepared a bond issue of $20,000 dated January 1, 2014. The bonds have a stated rate of 3% and a term of 6 years. The bond issue was delayed, and the bonds were finally sold on March 1, 2014 at par. Please provide the journal entry for the issue of the bonds on March 1, 2014.
58McDonald Sales prepared a bond issue of $20,000 dated January 1, 2014. The bonds have a stated rate of 3% and a term of 6 years. The bond issue was delayed, and the bonds were finally sold on March 1, 2014 at par. On June 30, 2014, the first semiannual interest payment is made. Please provide the journal entry for that payment transaction.