On August 1, 2022, Concord Corporation issued $500,400, 9%, 10-year bonds at face value. Interest is...

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On August 1, 2022, Concord Corporation issued $500,400, 9%, 10-year bonds at face value. Interest is payable annually on August 1. Concord's year-end is December 31. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Aug. 1 Debit Credit On August 1, 2022, Concord Corporation issued $500,400, 9%, 10-year bonds at face value. Interest is payable annually on August 1. Concord's year-end is December 31. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Aug. 1 Debit Credit