Frankum Company has issued three different bonds during 2017. Interest is payable annually on each of these bonds.

1. On January 1, 2017, 1,400, 6%, 5-year, $1,000 bonds dated January 1, 2017, were issued at face value.

2. On July 1, $865,000, 7%, 5-year bonds dated July 1, 2017, were issued at 102.

3. On September 1, $395,000, 5%, 5-year bonds dated September 1, 2017, were issued at 99.

Prepare the journal entries to record each bond transaction at the date of issuance. (
Brief Exercise 15-5 Frankum Company has issued three different bonds during 2017. Interest is payable annually on each of these bonds. 1. On January 1, 2017, 1,400, 6%, 5-year, $1,000 bonds dated January 1, 2017, were issued at face value. 2. On July 1, $865,000, 7%, 5-year bonds dated July 1, 2017, were issued at 102. 3. On September 1, $395,000, 5%, 5-year bonds dated September 1, 2017, were issued at 99. Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Sept. 1

Question

Frankum Company has issued three different bonds during 2017. Interest is payable annually on each of these bonds.

1.		On January 1, 2017, 1,400, 6%, 5-year, $1,000 bonds dated January 1, 2017, were issued at face value.
2.		On July 1, $865,000, 7%, 5-year bonds dated July 1, 2017, were issued at 102.
3.		On September 1, $395,000, 5%, 5-year bonds dated September 1, 2017, were issued at 99.

Prepare the journal entries to record each bond transaction at the date of issuance. (

Brief Exercise 15-5 Frankum Company has issued three different bonds during 2017. Interest is payable annually on each of these bonds. 1. On January 1, 2017, 1,400, 6%, 5-year, $1,000 bonds dated January 1, 2017, were issued at face value. 2. On July 1, $865,000, 7%, 5-year bonds dated July 1, 2017, were issued at 102. 3. On September 1, $395,000, 5%, 5-year bonds dated September 1, 2017, were issued at 99. Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Sept. 1

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Frankum Company has issued three different bonds during 2017. Interest is payable annually on each of these bonds. 1. On January 1, 2017, 1,400, 6%,

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