Solution-Prepare the interest expense and amortization

Prepare the interest expense and amortization entries

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Reference no: EM132536925

Titania Co. sells $600,000 of 12% bonds on May 1, 2018. The bonds pay interest on November 1 and May 1. The due date of the bonds is May 1, 2023. The bonds yield 10%, selling for $638,780. On July 1, 2019, Titania buys back $400,000 worth of bonds for $415,000 . Prepare journal entries through July 1, 2019.

Required: (Round to the nearest dollar.).

Question 1. Prepare the journal entries on May 1, 2018.

Question 2. Prepare the Interest Expense and amortization entries on November 1, 2018.

Question 3. Prepare the adjusting entries on December 31, 2018.

Question 4. Prepare the Interest Expense and amortization entries on May 1, 2019.

Question 5. Prepare the related journal entries on July 1, 2019 for the early

Extinguishment of the bonds 6%

Reference no: EM132536925

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Prepare the interest expense and amortization entries

Reference no: EM132536925

Reference no: EM132536925

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