Business, 01.07.2020 16:01 mmimay3501

On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $490,000 of 8% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Required:
1. If the market interest rate is 8%, the bonds will issue at $490,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021.
2. If the market interest rate is 9%, the bonds will issue at $542,277. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)
3. If the market interest rate is 7%, the bonds will issue at $621,216. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.)

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On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, is...

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