On January​ 1, 2019, Agree Company issued​ $85,000 of​five-year, 8% bonds when the market interest rate was​ 12%. The issue price of the bonds was​ $62,401. Agree uses the​effective-interest method of amortization for bond discount. Semiannual interest payments are made on June 30 and December 31 of each year. Which of the following is the correct journal entry to record the first interest​ payment? (Round all amounts to the nearest whole​ dollar.) A. Interest Expense ​3,400 Discount on Bonds Payable ​1,700 Cash ​5,100
B. Interest Expense ​5,100       Cash ​5,100
C. Interest Expense ​3,744 Discount on Bonds Payable 344  Cash ​3,400
D. Interest Expense ​5,100 Discount on Bonds Payable​3,400  Cash ​1,700

Posting references on the journal should be a. made when journalizing. b. entered when the journal is totaled. c. entered when posting to the ledger. d. entered in alphabetical order.

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u. s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)