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On October 1, 2024, Indigo Corp. issued $960,000,5%,10-year bonds at face value. The bonds were dated October 1, 2024, and pay interest annually on October
On October 1, 2024, Indigo Corp. issued $960,000,5%,10-year bonds at face value. The bonds were dated October 1, 2024, and pay interest annually on October 1. Financial statements are prepared annually on December 31. (a) Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Prepare the adjusting entry to record the accrual of interest on December 31, 2024. (Ust all debit entries before credit entrles, Credit account tities are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts) Last saved 9 seconds ago. Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes. Attempts: 0 of 3 used
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