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Assume that the following are independent situations recently reported in the Wall Street Journal . 1. General Electric (GE) 7% bonds, maturing January 28, 2023,

Assume that the following are independent situations recently reported in the Wall Street Journal.

1. General Electric (GE) 7% bonds, maturing January 28, 2023, were issued at 110.00.
2. Boeing 7% bonds, maturing September 24, 2037, were issued at 98.00.

(c)

Prepare the journal entry to record the issue of each of these two bonds, assuming each company issued $670,000 of bonds in total. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

1

enter an account title to record the issue of the General Electric bondsenter an account title to record the issue of the General Electric bonds

enter an account title to record the issue of the General Electric bondsenter an account title to record the issue of the General Electric bonds

enter an account title to record the issue of the General Electric bondsenter an account title to record the issue of the General Electric bonds

2

enter an account title to record the issue of the Boeing bondsenter an account title to record the issue of the Boeing bonds

enter an account title to record the issue of the Boeing bondsenter an account title to record the issue of the Boeing bonds

enter an account title to record the issue of the Boeing bondsenter an account title to record the issue of the Boeing bonds

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