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Grayco issued $2,000,000 of 10 year, 6% bonds on March 1 of the current year at face value, with interest payable on March 1 and

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Grayco issued $2,000,000 of 10 year, 6% bonds on March 1 of the current year at face value, with interest payable on March 1 and September 1. Grayco's fiscal year ends on December 31. Journalize the entries required for the first year of the bond issue. March 1 Debit Account Cash Select 1 Credit Account Select 1 [ Select September 1 Debit Account (Select) Select) Credit Account Select

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