Medhurst Corporation Isued $ 89,000 in bonds for $ 85,800. The bonds had a stated rate of 8% and pay interest quarterly. What is the journal entry to record the first interest payment? If an amount box does not require an entry, leave it blank.

Medhurst Corporation issued 589.000 in bonds for $85.800. The bonds had a stated rate of and pay interest quarterly What is the journal entry to record the first interest payment? If an amount box does not require an entry, leave it blank Interest Expense 7.120 X Cash Fecstas Remember the interest formula for calculating bond interest. It utilizes face value, the stated interest rate, and uses the time frame for the interest accrual period for the bonds