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Help me with this Accounting problem The board of directors of Images Plus authorizes the issue of $9,000,000 of 10%, 20-year bonds payable. The semiannual
Help me with this Accounting problem The board of directors of Images Plus authorizes the issue of $9,000,000 of 10%, 20-year bonds payable. The semiannual interest dates are May 31 and 30. The bonds are issued on May 31, 2016, at par 1. Journalize the following transactions a. Issuance of half of the bonds on May 31, 2016 b. Payment of interest on November 30, 2016 c. Accrual of interest on December 31, 2016 d. Payment of interest on May 31, 2017 2. Report interest payable and bonds payable as they would appear on the images Plus balance sheet at December 31, 2016. Journalize the transactions a through d. (Record debts first then credits. Exclude explanations from journal a. Issuance of half of the bonds on May 31, 2016
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