A Straight-line amortization of bond discount

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Legacy issues $330,000 of 5%, four-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. They are issued at $300,300 and their market rate is 8% at the issue date. REQUIREMENT: Use the straight-line method to amortize the bonds’ first two years like the one in Exhibit 10.7. (Round your answers to the nearest dollar amount. Omit the “$” sign in your response.) Semiannual Interest Period-End Unamortized Discount Carrying Value 1/01/2009 $ $ 6/30/2009 12/31/2009 6/30/2010 12/31/2010 Prepare the journal entries to record the first two interest payments. (Round your answers to the nearest dollar amount. Omit the “$” sign in your response.) Date General Journal Debit Credit June 30 2009 Dec. 31 2009 Problem 10-5A Straight-line amortization of bond discount L.O. P1, P2 Legacy issues $330,000 of 5%, four-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. They are issued at $300,300 and their market rate is 8% at the issue date. REQUIREMENT: Use the straight-line method to amortize the bonds’ first two years like the one in Exhibit 10.7. (Round your answers to the nearest dollar amount. Omit the “$” sign in your response.) Semiannual Interest Period-End 1/01/2009 6/30/2009 12/31/2009 6/30/2010 12/31/2010 Unamortized Discount $ Carrying Value $ Prepare the journal entries to record the first two interest payments. (Round your answers to the nearest dollar amount. Omit the “$” sign in your response.) Date June 30 2009 Dec. 31 2009 General Journal Debit Credit