Assume that on January $1,2025,$ Candlestick AG sells $100,000,$ five$-$year,

$10\%$ bonds for $98,000(98\%$ of face value$).$ Interest is payable annually on

January $1.$

Prepare a journal entry to record the issuance of bonds under US

GAAP.

Date

Account Title

Debit

Credit

Jan. $1$Assume that on January $1,2025,$ Candlestick AG sells $100,000,$ five$-$year, $10\%$ bonds for $98,000(98\%$ of face value$).$ Interest is payable annually on

January $1.$

Prepare a journal entry to record the issuance of bonds under US GAAP.

Date