Devers plc issued 400,000 of 6% bonds on May 1, 2022. The bonds were dated January 1,

Question:

Devers plc issued £400,000 of 6% bonds on May 1, 2022. The bonds were dated January 1, 2022, and mature January 1, 2024, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Devers’ journal entries for

(a) The May 1 issuance,

(b) The July 1 interest payment,