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On January 1st 2021, Spiderman issued (sold) $100,000 (100, $1000...

On January 1st 2021, Spiderman issued (sold) $100,000 (100, $1000 par bonds to Black Widow Company
 

 
These 8% Spiderman 10 year bonds pay interest semi-annual (July 1 and January 1) At the time of purchase
 

 
the market rate of interest is 6%.
 

 

 

 

 
REQUIRED:A) DETERMINE THE PRICE BLACK WIDOW PAID FOR THE BONDS
 

 
B) MAKE SPIDERMAN'S JOURNAL ENTRY WHEN THEY SOLD THE BONDS TO BLACK WIDOW
 

 
C) MAKE SPIDERMAN'S JOURNAL ENTRY WHEN IT MAKES ITS FIRST INTEREST PAYMENT (JULY 1)
 

 
D) MAKE SPIDERMAN'S ADJUSTING ENTRY ON DECEMBER 31ST 2021
 

 
e) ignore your answers to parts a through d to do part e
 

 

 
On January 1st 2026, retired the Spiderman retired the bonds by paying $117,000. On this date, bonds had a S120,000 book value

 

 
Make the journal entry Spiderman makes when it retires the bonds

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