Jan. $1$ Discount on Bonds Payable

Bonds Payable

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$($b$)$

Prepare the journal entry to record interest expense and bond discount amortization on December $31,2025,$ assuming no previous accrual of interest. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

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Question $5$ of $8$

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Oriole Company issues $$3\mathrm{.}6$ million, $20-$year, $9\%$ bonds at $98,$ with interest payable on December $31.$ The straight$-$line method is used to amortize bond discount.

$($a$)$

Your answer is correct.

Prepare the journal entry to record the sale of these bonds on January $1,2025.($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

$\backslash$table$[[$Date$,$Account Titles and Explanation,Debit,Credit$],[$Jan$.1,$Cash,$3528000,],[$Discount on Bonds Payable,$72000,],[$Bonds Payable,,$3600000]]$

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