Interest payable annually on January 1

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PCT Company issues $175,000 in bonds dated January 1, 2014, due in five years with 8 percent interest payable annually on January At the time of issue, the market rate for such bonds is 8 percent.

You are guired s propare

a Jornal entry on date of issue

b jornal entry to record accrued interest

c journal entry to record first payment of interest

any issues $175,000 in bonds dated January 1, 2014, due in five years with 8 percent inter e of issue, the market rate for such bonds is 8 percent. ed to prepare ayon date of issue y to record accrued interest. ty to record first payment of interest. PPSET