On February 1, Year 1, a company issued

10%

bonds, dated February 1, with a face amount of

$930,000

.\ The bonds sold for

$855,382

and mature on January 31, Year 21 (20 years).\ The market yield for bonds of similar risk and maturity was

11%

.\ Interest is paid semiannually on July 31 and January 31.\ The company's fiscal year ends December 31.\ Required:\ to 4. Prepare the journal entries to record their issuance by the company on February 1, Year 1, interest on July 31 , Year 1 (at the effective rate), adjusting entry to accrue interest on December 31, Year 1 and interest on January 31, Year 2.\ Note: Do not round intermediate calculations and round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

On February 1, Year 1, a company issued 10% bonds, dated February 1, with a face amount of $930,000. - The bonds sold for \$855,382 and mature on January 31, Year 21 (20 years). - The market yield for bonds of similar risk and maturity was 11%. - Interest is paid semiannually on July 31 and January 31. - The company's fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record their issuance by the company on February 1, Year 1, interest on July 31 , Year 1 (at the effective rate), adjusting entry to accrue interest on December 31, Year 1 and interest on January 31, Year 2. Note: Do not round intermediate calculations and round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field