Current Attempt in Progress

Ace Services, Inc. issued $$400,000,10\%,10-$year bonds on January $1,2025,$ at $105.$ Interest is payable annually on December $31.$ Ace

uses the straight$-$line method of amortization and has a calendar year$-$end.

Prepare all journal entries made in $2025$ related to the bond issue. $($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 $0$ for the amounts. List all debit entries

before credit entries. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

$2025$