On October 1, 2021, Grouper Corp. issued $792,000, 5%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 1. Financial statements are prepared annually on December 31.

(a)

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Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Oct. 1, 2021	enter an account title for the journal entry on October 1, 2021enter an account title for the journal entry on October 1, 2021	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount
	enter an account title for the journal entry on October 1, 2021enter an account title for the journal entry on October 1, 2021	enter a debit amountenter a debit amount	enter a credit amountenter a credit amount

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(b)

Prepare the adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2021