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On October 1, 2024, Swifty Corp issued $720.000,6%,10-year bonds at face value. The bonds were dated October 1.2024, and pay interest annually on October 1.

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On October 1, 2024, Swifty Corp issued $720.000,6%,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. Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. 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.) Prepare the adjusting entry to record the accrual of interest on December 31, 2024. (List all debit entries before credit entries. Credit account titles 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 of for the amounts.) Show the balance sheet presentation of bonds payable and bond interest pyable on December 31,2024. Prepare the journal entry to record the payment of interest on October 1, 2025. (thist all debit entries before credit entries. Credit decount tifles are automatically indented when amount is entered. Do not indent montially. If no entry is required. select "No Entry" for the account titles and enter O for the amounts.) Prepare the adjusting entry to record the accrual of interest on December 31,2025 . ftist alf debit entries before credit entries. Credit account titles are automatically indented when anount is entered. Do nat indent manually. If no entry is required. select "No Entry" for the account titles and enter 0 for the amounts.) Assume that on Aanuary 1.2026, Swifty puys the accrued bond interest and calls the bonds. The call price is 105. Record the payment of interest and redemption of the bonds, ftist all debit entries before credit eatries, Credt account titles are. automotically indented when amount is entered. Do aot indent manually if no eatry is required, select "No Eater' for the account tities and enter 0 for the ameunts

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