Question
on January 1, 2017 issued 268,500 9% 5 year bond at face value. Interest is payable annually. Journalize. Jan 1 -Debit Cash $268,500 -Credit Bond
on January 1, 2017 issued 268,500 9% 5 year bond at face value. Interest is payable annually.
Journalize.
Jan 1 -Debit Cash $268,500
-Credit Bond Payable $268,500
How do you journal to record the accrual of interest and show the solution of the answer
Debit -Interest Expense
Credit- Interest Payable
i need to know how to get the answer
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
