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Marsh Corporation issued 1,350 5%, 5-year, $1,000 bonds dated January 1, 2025, at face value. Interest is paid each January 1. Prepare the journal entries
Marsh Corporation issued 1,350 5%, 5-year, $1,000 bonds dated January 1, 2025, at face value. Interest is paid each January 1. Prepare the journal entries to record the issuance of the bonds, the accrual of interest on December 31, 2025, and the payment of interest on January 1, 2026. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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.) Date Jan. 1 Dec. 31 Account Titles and Explanation (To record sale of bonds at face value) (To accrue bond interest) (To record payment of bond interest) Debit Credit 7
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