Chart Of Accounts CHART OF ACCOUNTS General Ledger REVENUE 410 Sales 610 Interest Revenue 611 Gain on Redemption of Bonds ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 113 Allowance for Doubtful Accounts 114 Notes Receivable 115 Interest Receivable 121 Merchandise Inventory 122 Supplies 131 Prepaid Insurance 140 Land 151 Building 152 Accumulated Depreciation Building 153 Equipment 154 Accumulated Depreciation Equipment EXPENSES 510 Cost of Merchandise Sold 511 Bad Debt Expense 512 Credit Card Expense 513 Cash Short and Over 521 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense 534 Rent Experise 535 Insurance Expense 536 Supplies Expense 551 Depreciation Expense-Building 552 Depreciation Expense-Equipment LIABILITIES 210 Accounts Payable 500 Miscellaneous Expense 221 Salaries Payable 231 Sales Tax Payable 241 Notes Payable 242 Interest Payable 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payable 710 Interest Expense 711 Loss on Redemption of Bonds EQUITY 310 Owner Capital 311 Owner, Drawing 312 Income Summary On the first day of the fiscal year, a company issues a $910,000,7%, five-year bond that pays semiannual interest of $31,850 ($910,000 x 7% x 1/2), receiving cash of $884,177. Required: Journalize the entry to record the issuance of the bonds. Refer to the Chart of Accounts for exact wording of account bites Journalize the entry to record the issuance of the bonds on July 1. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 DATE DESCRIPTION CREDIT