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General JournalAccount:BOND PREMIUM
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DateAccountsDebitCreditBalance: 0.00#DIV/0!Accounts in use
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BOND DISCOUNT (recalled early)Current Balance Sheet (for discounts)7,985.42
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Bonds Payable0.001,597.08
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Jan/1/2017Cash92,418.43Less: discount(0.00)1,597.08
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Bond discount7,581.57Carrying Value(0.00)1,597.08
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Bonds Payable100,000.001,597.08
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Issued one 5 year 8% bond with market rates at 10%1,597.08
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Current Balance Sheet (for premium)
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Dec/31/2017Interest expense9,516.31Bonds Payable0.00
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Bond discount1,516.31Add: premium0.00
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Cash8,000.00Carrying Value0.00
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Paid interest on bond; amortized 1 year of discount
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Feb/1/2018Interest expense793.03
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Bond discount126.36
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Cash666.67
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Adjusted for first year
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Feb/1/2018Bonds Payable100,000.00
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Loss on bond recall5,938.90
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Bond discount5,938.90
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Cash100,000.00
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Recall bond for $100,000
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BOND PREMIUM (held to maturity)
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Jan/1/2017Cash107,985.42
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Bond premium7,985.42
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Bonds Payable100,000.00
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Issued one 5 year 10% bond with market rates at 8%
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Dec/31/2017Interest expense8,402.92
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Bond premium1,597.08
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Cash10,000.00
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Paid interest on bond; amortized 1 year of discount
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Dec/31/2017Interest expense8,402.92
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Bond premium1,597.08
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Cash10,000.00
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Paid interest on bond; amortized 1 year of discount
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Dec/31/2017Interest expense8,402.92
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Bond premium1,597.08
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Cash10,000.00
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Paid interest on bond; amortized 1 year of discount
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Dec/31/2017Interest expense8,402.92
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Bond premium1,597.08
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Cash10,000.00
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Paid interest on bond; amortized 1 year of discount
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Dec/31/2017Bonds Payable100,000.00
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Interest expense8,402.92
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Bond premium1,597.08
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Cash110,000.00
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Bond matures
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