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Metlock, Inc. has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. 2. On January 1, 2022,
Metlock, Inc. has issued three different bonds during 2022. Interest is payable annually on each of these bonds. 1. 2. On January 1, 2022, 1,100, 6%, 5-year, $1,000 bonds dated January 1, 2022, were issued at face value. On July 1, $891,000, 7%, 5-year bonds dated July 1, 2022, were issued at 101. 3. On September 1, $388,000, 5%, 5-year bonds dated September 1, 2022, were issued at 98. Prepare the journal entry to record each bond transaction at the date of issuance. (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.) Date Account Titles and Explanation Jan. 1 Cash Bonds Payable July 1 Cash Sept. 1 Premium on Bonds Payable Bonds Payable Cash Discount on Bonds Payable Bonds Payable Debit 1100000 Credit 1100000
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