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On June 30, 2021, Pronghorn Inc. sold $1,219,000 (face value) of bonds. The bonds are dated June 30, 2021, pay interest semi- annually on December
On June 30, 2021, Pronghorn Inc. sold $1,219,000 (face value) of bonds. The bonds are dated June 30, 2021, pay interest semi- annually on December 31 and June 30, and will mature on June 30, 2024. The following schedule was prepared by the accountant for 2021: Semi-annual Interest Period Interest to be Paid Interest Expense Unamortized Amount Bond Amortized cost Amortization $62.169 $1,156,831 Dec 31, 2021 $37,789 $48,471 $10,682 51,487 1.167,513 (d) Prepare the journal entry to record the sale of the bond issue on June 30, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit June 30, 2021
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