C. SHOW THE BALANCE SHEET OF BONDS PAYABLE AND BOND INTEREST PAYABLE ON DECEMBER 31 ,2024

D. PREPARE THE JOURNAL ENTRY TO RECORD THE PAYMENT OF INTEREST ON OCTOBER 1,2005

E. PREPARE THE ADJUSTING ENTRY TO RECORD ACCRUAL INTEREST ON DECEMBER 31,2025

F. ASSUME THAT ON JAN 1, 2026 SWIFTY PAYS ACCRUED BOND INTEREST AND CALLS BINDS. THE CALL PRICE IS 105. RECORD THE PAYMENT OF INTERESR AND REDEMPTION OF BONDS

Q6 WK 6

On October 1, 2024, Swifty Corp. issued $720,000,6%,10-year bonds at face value. The bonds were dated October 1,2024 , and pay interest annually on October 1. Financial statements are prepared annually on December 31. (a) Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Prepare the adjusting entry to record the accrual of interest on December 31, 2024. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)