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On January 1, 2020, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry

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On January 1, 2020, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entere manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented whe not indent manually.) Debit Date Account Titles and Explanation Credit Dec. 31, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the payment of interest on January 1, 2021. (Credit account titles are automatically indented when amount is entered not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2021 Click if you would like to Show Work for this question: Open Show Work

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