On January 1, 2017, Heedy Corporation issued $3,000,000 of 8%, 10-year bonds payable at face value. Interest is payable semiannually on July 1, and January 1.

Instructions

Present journal entries to record the following events:

1. The issuance of bonds.
2. The payment of interest in July.
3. The accrual of interest on December 31.
4. The payment of interest on January 1, 2018.
5. The redemption of bonds at maturity.