Exercise 15 15 Adcock Company issued $530,000,5 , 20 year bonds on January 1, 2017, at102 Interest is payable annually on January 1 Adcock uses straight line amortization for bond premium or discount Prepare the journal entry to record the issuance of the bonds (Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit Jan 1, 2017 Prepare the journal entry to record the accrual of interest and the premium amortization on December 31, 2017 (Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit Dec 31, 2017 Prepare the journal entry to record the payment of interest on January 1, 2018 (Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit Jan 1, 2018 Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded (Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit Jan 1, 2037

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Exercise 15-15 Adcock Company issued $530,000,5%, 20-year bonds on January 1, 2017, at102. Interest is payable annually on January 1. Adcock uses straight-line amortization for

Exercise 15-15 Adcock Company issued $530,000,5%, 20-year bonds on January 1, 2017, at102. Interest is payable annually on January 1. Adcock uses straight-line amortization for bond premium or discount.

Prepare the journal entry to record the issuance of the bonds.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2017

Prepare the journal entry to record the accrual of interest and the premium amortization on December 31, 2017.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2017

Prepare the journal entry to record the payment of interest on January 1, 2018.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2018

Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)