10-37 - $675.00 Cash $27,000.00 Dec. 31 Interest Payable...

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P10-37A (30-40 min) Req. 1 Premium, 5% MR Req. 2 Discount 7% MR Req. 3 Journal Entry Date Accounts Debit Credit Mar. 1 Cash (900,000*0.97) $873,000.00 Discount on Bonds Payable $27,000.00 Bonds Payable $900,000.00 Aug. 31 Interest Expense $27,675.00 Discount
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Unformatted text preview: $675.00 Cash $27,000.00 Dec. 31 Interest Payable $18,450.00 Interest Discount $450.00 Interest Payable $18,000.00 Feb. 28 Interest Expense $9,225.00 Interest Payable $18,000.00 Discount $225.00 Cash $27,000.00...
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