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3) The board of directors of Delta Steel Berhad authorizes the issuance of RM600,000 of 5%, 10-year bonds payable. The semiannual interest dates are May
3) The board of directors of Delta Steel Berhad authorizes the issuance of RM600,000 of 5%, 10-year bonds payable. The semiannual interest dates are May 31 and November 30. The bonds are issued on 31 July 2018 at par plus accrued interest. Requirements: 1. Journalize the following transactions: a) Issuance of the bonds on 31 July 2018. b) Payment of interest on 30 November 2018. c) Accrual of interest on 31 December 2018. d) Payment of interest on 31 May 2019. 2. Report interest payable and bonds payable as they would appear on the balance sheet of Delta Steel Berhad as at 31 December 2018
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