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Cred On January 1, 2020, Riverbed Corporation issued $550,000 of 7% bonds, due in 8 years. The bonds were issued for $517,958, and pay
Cred On January 1, 2020, Riverbed Corporation issued $550,000 of 7% bonds, due in 8 years. The bonds were issued for $517,958, and pay interest each July 1 and January 1. Riverbed uses the effective-interest method. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%. (Round intermediate calculations to 6 decimal places, eg. 1.251247 and final answer to O decimal places, eg. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date (a) Ci (b) P Account Titles and Explanation MacBook Pro Debit
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