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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, were
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 110.70. 2. Boeing 7% bonds, maturing September 24, 2037, were issued at 98.35. (c) Prepare the journal entry to record the issue of each of these two bonds, assuming each company issued $740,000 of bonds in total. (Credit account titles are automatically indented when amount is entered. Do not indent manually Debit Credit No. Account Titles and Explanation 1 2
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