On January 1, 2018, Carvel Corp. issued five-year bonds with a face value of $620,000 and a coupon interest rate of 6%, with interest payable semi-annually.

Attempts: 1 of 2 used (b) Record the journal entries relating to the bonds on January 1, July 1, and December 31, assuming that when the bonds were sold, the market interest rate was 6% (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit an. 1 Cash Bonds Payable July 1 Interest Expense Cash Dec. 31 Interest Expense Interest Payable Attempts: 0 of 2 used