On May 1, 2020, Pharoah Corp. issued CHF560,000, 68, 5-year bonds at face value. The bonds...

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On May 1, 2020, Pharoah Corp. issued CHF560,000, 68, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 1. 2020 Debit Credit Prepare the adjusting entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, eg. 5,675.) Date Account Titles and Explanation Dec. 31. 2020 Debit Credit Show the statement of financial position presentation on December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to O decimal places, e.g. 5,675.) Pharoah Corp. Statement of Financial Position (Partial) CHF CHF Prepare the journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,675.) Date Account Titles and Explanation May 1. 2021 Debit Credit Prepare the adjusting entry to record the accrual of interest on December 31, 2021.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, eg. 5,675.) Date Account Titles and Explanation Dec. 31, 2021 Debit Credit Assume that on January 1, 2022, Pharoah pays the accrual bond interest and calls the bonds. The call price is 105. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,675) Date Account Titles and Explanation Jan. 1. 2022 Debit Credit Jan. 1. 2022 (To record payment of interest) (To record redemption of the bonds) On May 1, 2020, Pharoah Corp. issued CHF560,000, 68, 5-year bonds at face value. The bonds were dated May 1, 2020, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 1. 2020 Debit Credit Prepare the adjusting entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, eg. 5,675.) Date Account Titles and Explanation Dec. 31. 2020 Debit Credit Show the statement of financial position presentation on December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to O decimal places, e.g. 5,675.) Pharoah Corp. Statement of Financial Position (Partial) CHF CHF Prepare the journal entry to record payment of interest on May 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,675.) Date Account Titles and Explanation May 1. 2021 Debit Credit Prepare the adjusting entry to record the accrual of interest on December 31, 2021.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, eg. 5,675.) Date Account Titles and Explanation Dec. 31, 2021 Debit Credit Assume that on January 1, 2022, Pharoah pays the accrual bond interest and calls the bonds. The call price is 105. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,675) Date Account Titles and Explanation Jan. 1. 2022 Debit Credit Jan. 1. 2022 (To record payment of interest) (To record redemption of the bonds)