On january 1, 2022, Fleming corporation issued $500,000, 6% five-year bonds, dates January 1, 2022 at 105. The bonds pay interest semi-annually on January 1 and july 1. The company has a December 31 year end. Assume amortization of $2,243 and $2,297 respectively for the first two semi-annual interest periods.

Instructions

Prepare the journal entries that Fleming Corporation would relate to the bond issue on the dates indicated below:

January 1, 2022

Debit ... $...........

Credit $.........

To record sale of bonds issued of a ...

July 1, 2022

Debit $............

. ... $2243

. .. $..........

To record semi-annual payment of interest and amortization of bond ..

December 31, 2022

Debit . $.............

. $2297

.. $............

To record accrued bond interest and amortization of bond .

January 1, 2023

Debit .. $.............

Credit $............

To record payment of bond interest