On January 1, 2022, Bramble Corporation issued $1,840,000 face value, 5%, 10- year bonds at $1,704,574. This price resulted in an effective-interest rate of 6% on the bonds. Bramble uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Round answers to 0 decimal places, e. g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
Jan. 1
enter an account title for the journal entry on January 1enter an account title for the journal entry on January 1
enter a debit amountenter a debit amount
enter a credit amountenter a credit amount
enter an account title for the journal entry on January 1enter an account title for the journal entry on January 1
enter a debit amountenter a debit amount
enter a credit amountenter a credit amount
enter an account title for the journal entry on January 1enter an account title for the journal entry on January 1
enter a debit amountenter a debit amount
enter a credit amountenter a credit amount
eTextbook and Media
List of Accounts
Attempts: 1 of 3 used
(b) Prepare an amortization table through December 31, 2024 (three interest periods) for this bond issue. (Round answers to 0 decimal places, e. g. 125.)
BRAMBLE CORP.
Bond Discount Amortization
Effective-Interest Method—Annual Interest Payments
Annual
Interest
Periods
Interest
to Be
Paid
Interest
Expense
to Be
Recorded
Discount
Amortization
Unamortized
Discount
Bond
Carrying
Value
Issue date
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2 enter a dollar amountenter a dollar amount enter a dollar amountenter a dollar amount enter a dollar amountenter a dollar amount enter a dollar amountenter a dollar amount enter a dollar amountenter a dollar amount
3 enter a dollar amountenter a dollar amount enter a dollar amountenter a dollar amount