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Part F (10 marks) Spectre Corporation issued $850,000 in 8% 10-year bonds (payable on December 31, 2032 on December 31, 2022, for $926,500 Interest
Part F (10 marks) Spectre Corporation issued $850,000 in 8% 10-year bonds (payable on December 31, 2032 on December 31, 2022, for $926,500 Interest is paid on June 30 and December 31. The market rate of interest is Required: Using the effective interest method, prepare the journal entries for the issuance of the bonds on December 31, 2022 as well as the required journal entries on June 30, 2023 and December 31, 2023 Date 2022. 12/31 Cash Account Bonds payable Premium on bonds Cissusance at bonds premium) Date 2023, 6/30 Account Interest expense Premium on bonds payable Cash Debit Credit 926500 850000 76500 Debit Credit Date Account Debit Credit 2023. 12/31
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