Please don't provide answer in image format thank you Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022. (Credit accounttitles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the accounttitles and enter O for the amounts.)Date Account Titles and ExplanationDec. 31,2022DebitCredit Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December31. Bramble uses the straight-line method to amortize bond premium or discount.

Journal Entry :— It is an act of recording transactions in books of account when transaction…

Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December 31. Bramble uses the straight-line method to amortize bond premium or discount.

Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December 31. Bramble uses the straight-line method to amortize bond premium or discount.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 8RE

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Please don't provide answer in image format thank you

Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022. (Credit account
titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account
titles and enter O for the amounts.)
Date Account Titles and Explanation
Dec. 31,
2022
Debit
Credit

Bramble Corp. issued $318,000, 9%, 15-year bonds on December 31, 2021, for $298,920. Interest is payable annually on December
31. Bramble uses the straight-line method to amortize bond premium or discount.

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Step 2: Working for discount on bonds payable

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Step 3: Working for discount amortized per period

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Step 4: Working for cash interest payment and interest expense

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