On January 1, 2015, Jack Co. issued three $100,000, 6%, bond payables that mature in 5 years. Straight line depreciation is used.

Required: Consider the facts above and answer each of the three independent situations described below. Answer the following questions.

Bond # 1 is issued at 100 with annual payments at December 31

1.  Cash received upon sale: $______________________

2. The bonds were sold Discount, Premium Face upon sale: $______________________

3. Cash interest paid at December 31 2015 $_____________________

4. Bond interest expense in the Income Statement at December 31 $______________________

5. Carrying Value of the Bonds on the Balance Sheet at December 31 $______________________

Bond # 2 is issued at 103 with annual payments at December 31

1. Cash received upon sale: $______________________

2. The bonds were sold Discount, Premium Face upon sale: $______________________   

3. Cash interest paid at December 31 2015 $______________________

4. Bond interest expense in the Income Statement at December 31 $______________________

5. Carrying Value of the Bonds on the Balance Sheet at December 31 $______________________

Bond # 3 is issued at 98 with annual payment at December 31.

1. Cash received upon sale: $______________________

2. The bonds were sold Discount, Premium Face upon sale: $______________________

3. Cash interest paid at December 31 2015 $_____________________

4. Bond interest expense in the Income Statement at December 31 $______________________

5. Carrying Value of the Bonds on the Balance Sheet at December 31 $____________________