Carla Vista Corp. issued $570,000 of 3-year, 6% bonds on May 1, 2021. The market interest rate when the bonds were issued was 8%. Interest is payable quarterly. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (a) Your Answer Correct Answer Your answer is correct What is the number of interest payments that will be made over the life of the bond? Number of interest payments 12 payments (d) Prepare the journal entry to record the issuance of the bond. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answer to 0 decimal places, eg. 1.575) Date Account Titles and Explanation Debit Credit May 1 (To record issuance of bonds) Cullumber Company issued $312,000 of 9%, 10-year bonds on January 1, 2021, at face value. Interest is payable annually on January 1, 2022 (a) Your Answer Correct Answer Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Date Jan. 1, 2021 Cash 312000 Bonds Payable 312000 (To record Issuance of bonds.) Solution Assistance Used Interest Expense - ($312,000 x 9%) - $28,080 List of Accounts Attempts: 1 of 1 usec Question Part Score 1.60 Prepare the journal entry to record the payment of interest on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (To record interest payment.) ter Get the core of Check the You w mate bond Idi Prothermal try to cecord the buceof the band. Occontent when the enteral Do not rent manual try to try to the matter and enter the wwert din plan 1.575 Date Account Titles and Explanation De May 1 Colettory....09% 10 bonde onry 2001, serta X2 Al Your Anwer Correct w Powether or forward the fiebonded went on the manner Date Acc Tiles and planation Crec Tr 31 stol Accounts Atel Daartoe real entry to content today. 2002.Com when the amount Deret inden for the mo Date Accounties and Explanation De Gre