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On July 31, 2024, Carla Vista Inc. issued $550,000 of 5-year, 4% bonds at 103. Interest is payable semi-annually on July 31 and January
On July 31, 2024, Carla Vista Inc. issued $550,000 of 5-year, 4% bonds at 103. Interest is payable semi-annually on July 31 and January 31. Carla Vista's fiscal year end is January 31. (c) Record the payment of interest on January 31, 2025, assuming the semi-annual amortization amount for this interest period is $1,015. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles Jan. Interest Expense 31 Bonds Payable Cash eTextbook and Media Debit Credit 11000
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