On January 31,

2018,

DurkinDurkin

Logistics, Inc., issued

five-year,

5%

bonds payable with a face value of

$5,000,000.

The bonds were issued at

96

and pay interest on January 31 and July 31.

DurkinDurkin

Logistics amortizes bond discounts using the straight-line method.Read the requirement

a. Record the issuance of the bond payable on January 31,

2018.

(Record debits first, then credits. Exclude explanations from any journal entries.)

Journal Entry
Date		Accounts	Debit	Credit
Jan	31

b. Record the payment of semiannual interest and amortization of bond discount on July 31,

2018.

Journal Entry
Date		Accounts	Debit	Credit
July	31

c. Record the interest accrual and discount amortization on December 31,

2018.

(Do not round intermediary calculations. Only round the amount you input in the cell to the nearest whole dollar.)

Journal Entry
Date		Accounts	Debit	Credit
Dec	31