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On April 30, 2023, a company issued $600,000 worth of 5% bonds at par. The term of the bonds is 9 years, with interest
On April 30, 2023, a company issued $600,000 worth of 5% bonds at par. The term of the bonds is 9 years, with interest payable semi- annually on October 31 and April 30. The year-end of the company is November 30. Record the journal entries related to interest for 2023 and 2024. Note that interest must be accrued at the end of each year. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole dollar. For transactions with more than one debit, enter the debit accounts in alphabetical order. Date Account Title and Explanation Oct 31, 2023 Nov 30, 2023 Payment of bond interest Apr 30, 2024 Accrued interest on bonds at year-end Oct 31, 2024 Payment of bond interest Doyment fbond interest Debit Credit Nov 30, 2024 Accrued interest on bonds at year-end
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