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Swanson Corporation issued $8,400,000 of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March
Swanson Corporation issued $8,400,000 of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2029. Swanson's fiscal year ends on December 31. Prepare the following journal entries: a.April 1, 2009, to record the issuance of the bonds.b.September 30, 2009, to pay interest and to amortize the bond premium.c.March 31, 2029, to pay interest, amortize the bond premium, and retire the bonds at maturity (make two separate entries).(Round to the nearest dollar. Numbers in parentheses should be entered without a negative symbol. Omit the "$" sign in your response.)------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Check My WorkeBook Links (2)Referencesdue: 11/07/2010 (Sunday) at 11:59 PM attempt: 1 out of 3 instructions:Please complete each of the following exercises and problems. If you complete the assignment once-that is the score you will receive. If you complete the assignment two or three times-you will receive the average of your scores on this assignment. Chapter Ten Homeworkclose windowdue: 11/07/2010 (Sunday) at 11:59 PM attempt: 1 out of 3 .instructions:Please complete each of the following exercises and problems. If you complete the assignment once-that is the score you will receive. If you complete the assignment two or three times-you will receive the average of your scores on this assignment. student assignment previewclose windowThe student preview allows you to see your assignment screens as your students will see them.Changes and selections you make while in student view (including clicking "submit assignment") will not be saved or otherwise affect any of your (or your students') settings, so feel free to explore! save & exit in student assignment previewclose windowThis button has been disabled for instructors viewing the student assignment preview.A student clicking this button would have any work done on this page saved and then be returned to the home page/assignment list.
