Brief Exercise 10-11

Frankum Company has issued three different bonds during 2017. Interest is payable annually on each of these bonds.

1.		On January 1, 2017, 1,400, 6%, 5-year, $1,400 bonds dated January 1, 2017, were issued at face value.
2.		On July 1, $833,000, 7%, 5-year bonds dated July 1, 2017, were issued at 102.
3.		On September 1, $340,000, 5%, 5-year bonds dated September 1, 2017, were issued at 99.

Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

list of usable accounts:

Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Bonds Payable Cash Common Stock Cost of Goods Sold Depreciation Expense Discount on Bonds Payable Equipment Federal Income Taxes Payable Federal Uemployment Taxes Payable FICA Taxes Payable Gain on Bond Redemption Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Interest Payable Inventory Lease Liability Loss on Bond Redemption Mortgage Payable Notes Payable Notes Receivable Other Operating Expenses Paid-in Capital in Excess of Par-Common Stock Payroll Tax Expense Preferred Stock Premium on Bonds Payable Prepaid Insurance Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Sales Taxes Payable Service Revenue State Income Taxes Payable State Unemployment Taxes Payable Subscription Revenue Ticket Revenue Unearned Service Revenue Unearned Subscription Revenue Unearned Ticket Revenue