On October 1, 2021, Monty Corp, issued $828,000, 7%, 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 Part 1 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.) Debit Credi Date Account Titles and Explanation Oct. 1. 2021 e Textbook and Media List of Accounts Save for Later Attempts:0 of 15 used Submit Answer Part 2 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.) Debit Credi Date Account Titles and Explanation Dec 31. 2021 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 15 used Submit Answer Part 3 Show the balance sheet presentation of bonds payable and bond interest payable on December 31 2021 MONTY CORP Balance Sheet (Partial) e Textbook and Media List of Accounts Save for Later Attempts: 0 of 15 used Submit Anda Part 4 Prepare the journalentry to record the payment of Interest on October 1, 2022 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credi Date Account Titles and Explanation Oct. 1 2022 eTextbook and Media List of Accounts Save for Later Attempts: Oof 15 used Submit Answer Part 5 Prepare the adjusting entry to record the accrual of Interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credi Date Account Titles and Explanation Dec 31. 2022 eTextbook and Media Part 5 Prepare the adjusting entry to record the accrual of interest on December 31, 2022 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credi Date Account Titles and Explanation Dec. 31. 2022 eTextbook and Media List of Accounts Save for Later Attempts:0 of 15 used Submit Answer Part 6 Assume that on January 1, 2023, Monty pays the accrued bond interest and calls the bonds. The call price 104 Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Tities and Explanation Credi Debit Jan. 1. 20 (To record payment of interest) Jan 1. 2023 (To record the redemption of the bonds) e Textbook and Media List of Accounts Save for Later Attempts: Oof 15 used Submit
