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Pharoah Corporation issued $420,000 of 5-year bonds on April 1, 2023. Interest is paid semi-annually on April 1 and October 1. Eelow is a partial
Pharoah Corporation issued $420,000 of 5-year bonds on April 1, 2023. Interest is paid semi-annually on April 1 and October 1. Eelow is a partial amortization schedule for the first few years of the bond issue. Prepare the journal entry for the payment of interest on April 1, 2024. Assume no reversing entries have been used. (List oll debit entries before credit entries. Credit account tities are automatically indented when the amount is entered: Do not indent monially. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.)
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