Madrid Company plans to issue 8% bonds on January 1, 2008, with a par value of $4,000,000. The company sells $3,600,000 of the bonds on January 1, 2008. The remaining $400,000 sells at par on March 1, 2008. The bonds pay interest semiannually as of June 30 and December 31. Record the entry for the March 1 cash sale of bonds. 30. Jin Li, an employee of ETrain.com, leases a car at O’Hare airport for a three-day business trip. The rental cost is $250. Prepare the entry by ETrain.com to record Jin Li’s short-term car lease cost.

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